Brazil: Oilseeds and Products Update

Brazil’s soybean sector continues to demonstrate strong momentum, with MY 2024/25 production reaching a new record driven by higher yields—particularly in São Paulo, Goiás, and the MATOPIBA region—supported by favorable weather and improved cultivation practices. Although heavy rains and unstable climate conditions in early November temporarily slowed planting in key states, sowing activities quickly regained pace across major producing regions. Production costs remain under pressure due to high interest rates, though seed and fertilizer prices have eased slightly. Soybean oil and meal output are also increasing, supported by the new B15 biodiesel mandate, which is driving greater crushing volumes and boosting domestic consumption.