The 2024/2025 Brazilian soybean harvest reached a record 168.25 million tons, according to the June update by StoneX. Despite losses in some regions, such as Rio Grande do Sul, where productivity was 2.13 tons per hectare, and in Piauí, affected by a dry spell in February, the national result was sustained by improved performances in other areas of the country. The national average for productivity was estimated at 3.56 tons per hectare.

In the supply and demand balance of oilseed, there were no significant changes, other than a slight reduction in production.  StoneX forecasts exports of 107 million tons and domestic consumption of 60 million, which should result in final stocks of 4.45 million tons. Also, the stock/use ratio is considered tight, around 2.66 percent.

In addition to soybeans, corn also shows growth

Corn production also showed growth, especially with the improved results of the second crop, which is still in the final stages of development and beginning of harvest. The estimate was raised to 106.1 million tons, driven by better yields in the Midwest, Paraná and São Paulo. As a result, total corn production in the 2024/2025 season was revised to 134 million tons, including the first crop, which had a slight decline, reaching and was 25.7 million tons, and the third, estimated at just over 2 million.

In the domestic market, corn consumption is expected to increase due to the growth of the corn ethanol segment, which continues to be buoyant. The estimate was adjusted from 87 to 89 million tons, reinforcing the expansion trend of this sector and its impact on demand for cereal.