Post estimates marketing year (MY) 2022/2024 soybean production at 875,000 metric tons (MT), the lowest level in sixteen years due to a historic drought affecting Uruguay and neighboring Argentina. As a result, Post reduces MY 2022/23 exports to 850,000 MT. Post estimates that farmers may abandon up to a quarter of their planted area due to drought. In contrast, Post projects a robust recovery for 2023/2024 to 2.9 million MT on an increased planted area of 1.275 million hectares and assuming a return to normal weather patterns and trend yields. Post projects 2023/2024 exports at 2.6 million MT.