CONAB estimate: Brazil's 2026/27 soybean production to reach 1.816 hundred million tons

On Thursday, the National Supply Company of Brazil (CONAB) released a report projecting Brazil's soybean production for 2026/27 at 1.816166 hundred million tons, slightly below last month's forecast of 1.8164 hundred million tons and up 0.7% from the previous year.

　　Soybean acreage is projected at 4930 ten thousand hectares, up 1.4% year on year, the lowest growth rate in twenty years.

　　Soybean yield is projected at 3,683 kilograms per hectare, down 0.8% year on year.

　　Supported by strong demand from China, Brazil’s soybean exports in 2026/27 are forecast to reach 1.17966 hundred million tonnes, slightly below last month’s forecast of 1.1798 hundred million tonnes and 1.5% higher than the previous year’s 1.162038 hundred million tonnes.

　　Domestic consumption is forecast at 6754 ten thousand tonnes, higher than the previous year’s 6555 ten thousand tonnes. Ending stocks are 634 ten thousand tonnes, lower than the previous year’s 953 ten thousand tonnes.

　　Soybean meal

CONAB forecasts this month that Brazil’s soybean meal production in 2026/27 will be 4908 ten thousand tons, higher than 4758 ten thousand tons in the previous year (last month’s forecast was 4780 ten thousand tons; exports are forecast at 2710 ten thousand tons, higher than 2630 ten thousand tons in the previous year; domestic consumption is forecast at 2208 ten thousand tons, higher than 2140 ten thousand tons in the previous year; and stocks are estimated at 359 ten thousand tons, higher than 368 ten thousand tons in the previous year.

　　Soybean oil

CONAB forecasts this month that Brazil’s soybean oil production in 2026/27 will be 1278 ten thousand tons, higher than 1245 ten thousand tons in the previous year (last month’s forecast was 1256 ten thousand tons); domestic consumption is 1163 ten thousand tons, higher than 1053 ten thousand tons in the previous year (last month’s forecast was 1069 ten thousand tons); exports are estimated at 140 ten thousand tons, lower than 190 ten thousand tons in the previous year (last month’s forecast was 180 ten thousand tons). Stocks are 64 ten thousand tons, lower than 79 ten thousand tons in the previous year (last month’s forecast was 84 ten thousand tons).