Newsletter summary
StoneX predicts that Brazilian soybean production will remain at 1 in 2023 / 2024.Deuceswilddoubleup. 5.1 billion tons, corn production increased to 126 million tons.
Text of news flash
[StoneX predicts that Brazil's soybean production in 2023 and 2024 will be the same as previous forecasts.] Commodity brokerage firm StoneX in the latestDeuceswilddoubleupAccording to its forecast, Brazil's soybean production is expected to reach 151 million tons in 2023 and 2024, in line with previous forecasts. In addition, the agency also raised its forecast for Brazilian corn production in 2023 to 126 million tons, up from the previous estimate of 124 million tons.
This forecast will provide important reference information for the market, especially in the context of current global food price fluctuations. Soybean is one of the most important agricultural products in the world (000061). The stable yield of soybean is expected to help ease market volatility. At the same time, the increase in corn production also reflects the optimistic outlook for agricultural production in Brazil.
According to StoneX analysis, Brazil's agricultural production is expected to be based on the current climatic conditions, advances in planting technology and market demand and other factors. Despite some uncertainty, on the whole, the steady growth trend of Brazilian agriculture has not changed.
It is worth noting that the fluctuation of agricultural prices is not only related to the balance of supply and demand in the international grain market, but also affects the stable development of the global economy. Therefore, StoneX's forecast report is undoubtedly a valuable reference for investors in the secondary market.