The demand for soybeans is increasing every year throughout the world. This is due to increased consumption. Necessity grows in proportion to population growth. Soya is used in the food, cosmetic, pharmaceutical and paint industries. The products of its processing make cheap, but nutritious food for farm animals and affordable biofuels.
Specialists at Conab slightly raised the forecast for soybean yield in Brazil for the next marketing year. The forecasted figures were 106.5-108.7 million tons (with an average of 107.5 million tons). For comparison, in October this year they reached 106-108.1 million tons. In turn, analysts from The Soybean & Corn Adviser believe that the yield in the next year will go down by 5-7% or 5.5-7.7 million tons.
In this season, Brazilians increased the area under crops by 4%, but the average yield decreased by almost 7%. The bad influence was caused by abnormal weather events. For corn, a decrease of acreage by 7-12% is predicted and the total volume is reduced by 7-9%. Specialists have lowered the yield to 91 million tons (with an average of 92.3). If the assumption is realized, the Brazilians will collect less corn for 5-6 million tons per year.