Brazil's Soybean Production Projected to Rise Modestly in 2026/27

Brazil's soybean production is expected to reach 181.64 million metric tons in the 2026/27 season, up 0.7% from the previous season.

This forecast comes from Conab, Brazil's national crop agency, which released its first estimate for the new crop on Tuesday.

The outlook is for moderate production growth, combined with a tighter supply and demand balance, according to Conab. Farmers in Brazil have been grappling with elevated borrowing costs and higher fertilizer prices due to the Middle East conflict.

Soybean exports are forecast to rise 1.5% to 117.98 million tons, supported by strong Chinese demand. However, growth is likely to be constrained by the limited increase in Brazilian supply and stronger competition from US soybeans.

Brazil's corn crop is projected to reach a record 148 million tons in 2026/27, up 2.8% from the previous season. Domestic demand is expected to continue expanding, supported by steady growth in the feed industry and the rapid development of Brazil's corn-based ethanol sector.