Brazil 2020/2021 soybean crop forecast slashed by 2mn

SAO PAULO: Aprosoja, an association representing Brazilian grain growers, has cut its forecast for the country's 2020/2021 soybean crop, citing an expectation of falling yields due to dryness in key producing states.

In a new estimate disclosed on Tuesday, Aprosoja said it now expects farmers in the world's largest soy producing nation to harvest 127 million tonnes of the oilseeds, down from 129 million tonnes in its previous forecast.

If confirmed, Brazil's projected output would break last season's record as estimated by Brazil's food and statistics agency Conab.

In the previous soybean cycle, Brazilian farmers produced some 124.8 million tonnes of the oilseeds, government data shows.

Earlier this year, Aprosoja had predicted the crop had the potential to reach 134.5 million tonnes in the current season.

But planting delays amid dry weather and the absence of regular rains in the last few months have partly affected yields, according to Aprosoja President Bartolomeu Pereira.