Brazil: Oilseeds and Products Annual
FAS/Brasilia forecasts 2015/16 soybean production at 94 million metric tons (mmt) despite a drop in planted area to 31.1 million hectares, a decrease of one percent compared to 2014/15. The drop in area is attributed to the relative low global soybean prices, the economic challenges in Brazil, and the expectation of higher interest rates. Soybean exports in marketing year 2015/16 are forecast to reach a record 48 mmt, up four percent compared to the previous marketing year. This forecast is based on strong demand by China and the expected weak Brazilian Real through 2015 and 2016.
