Brazil: Oilseeds and Products Update

In 2022/23, Brazil is forecast to reap a record soybean crop of 153 million metric tons (MMT). Post maintained the forecast for planted area expansion of 43.3 million hectares (ha). Harvest lags behind schedule compared to previous years, with Post contacts sharing that frequent rains and the upcoming wet weather forecast could potentially impact soybean quality. Post maintained the soybean export forecast at 97 MMT. Post also maintains the crush forecast of 51.5 MMT for 2022/23, driven by the domestic demand for soy oil.