Soybean production will grow again in Southern America the new season, however, the weather may influence on the crop prospects in this or that way, declared The CEO of Celeres, Anderson Galvao on September 30 within the online conference Fat&Oil Industry-2020.
The expert said that the soybean crop has been growing gradually in Brazil in the recent years. Since 2014, the annual surplus of soybean planted area has been about 0.3-0.4 mln ha.
“Soybean planted area will be extended by 1.3 mln ha this year on significant growth of soybean production profit amid sharp depreciation of Brazilian real”, - he explained.
Additionally, soybean production is pushed up by fast development of biodiesel industry.
“At the same time, farmers have concerns regarding weather conditions in the coming weeks as some regions faced a lack of precipitation. Currently, farmers planted soybean throughout only 1% of the plan and the optimal planting window will close as soon as mid-October. Thus, the coming two weeks will determine the soybean crop prospects”, - A.Galvao concluded.