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Conab boosts ideas of record Brazilian soybean crop

Brazil, the world's top-ranked soybean exporter, is on track to produce a record large crop.

Conab, the Brazilian crop agency, unveiled a 1.35m tonne upgrade to its soybean harvest forecast, leaving prospects at a record 103.80m tonnes, up 8.8% year-on-year.

The agency lifted its ideas for the crop based on good climate conditions, which will see yields bounce back after a disappointing harvest in the previous season.

Rising planted area

The area devoted to soybeans was up 1.6% compared to the previous harvest, Conab said.

According to Conab, Brazilian farmers increased planting and the use of agricultural inputs after a disappointing harvest in the previous season.

The country's corn crop will also benefit, as Conab revised its forecast up 700,000 tonnes, to 84.5m tonnes.

Timely rains

In Mato Grosso, the top growing state, Conab reports that the timing of rains "allowed the farmers to work within the ideal window of the oilseed crop".

"With this, the attentions turn to the development of the crop, for which conditions are excellent," Conab said.

In Mato Grosso, yields are expected to rise by 10.3% year on year, with planted area up 1.3%.

"The increase in planted area and the recovery of productivity are expected to deliver record production of 29m tonnes, exceeding by 12% the 26 million tonne seen for the last harvest".

Parana crop avoids cold damage

Soybean plantings in Parana were seen down 3.8% year on year.

But thanks to much needed rains in December, conditions are excellent, Conab said.

A cold spell in December did no major damage, given the stage of development soybeans were at, Conab said.

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