This week Barchart released its March 2023 Yield and Production forecasts for South American corn and soybeans. Â
The latest report indicates an increase in the production forecast for soybeans in Brazil, while crop production estimates for corn remain unchanged.  Brazil's soybean production is forecast at 151.2 MMT with a yield of 3,483.7 kg/Hectare, compared to last month’s 149.5 MMT. Brazil’s corn production is forecast at 129 MMT with a yield of 5683 kg/Hectar. Â
According to AgRural, Brazilian farmers have harvested 43% of the soybean area planted for 2022/23. Persistent rain has continued to slow the progress of the soybean harvest in Mato Grosso do Sul and Paraná, keeping the overall pace of harvest delayed.Â
Barchart’s South American Crop Production Report for Argentina indicates crop forecasts for corn and soybeans remain unchanged. Barchart’s soybean production for Argentina is forecast at 42.4 MMT with a yield of 2,485.4 Kg/Hectare. Barchart’s corn production for Argentina is forecast at 46.7 MMT with a yield of 6,783.4 kg/Hectare.
Last week the Buenos Aires Grain Exchange announced that it plans to cut its estimate for Argentina's soybean crop for the 2022/23 cycle for the fourth time due to the impact of the ongoing drought.Â
Get ahead of government crop production estimates for South America by subscribing to Barchart’s South American Crop Production Report.Â
More Soybean News from Barchart
- Triple Digit Weakness for Cotton Market
- Spring Wheat Being Left Behind through Midday
- Beans Turning Around on Tuesday
- Midday Corn Back to Break Even
On the date of publication, Megan Hankins did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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