Argentina and Brazil to produce up to 50% more soybeans than US this crop season

Date:10-14-2016

The two major producers of soybeans in the Southern Cone, Brazil and Argentina, will harvest this year a combined yield of almost 50% more soybeans than the United States, which until recent years was the leading power in the field. These South American countries will produce some 153 million tons, while the northern giant will have produced 108 million tons of the crop during this campaign.

The data show continued growth, beyond the economic and climatic vagaries of soybean production in the Southern Cone. The region also has the greatest potential for further expansion.

In Brazil, a harvest of 95 million tons, a record for the country, is expected. Argentina also beat its biggest brand, with 58 million tons being forecast. Thus, the two countries are expected to produce 41% more soybeans than the United States, but in Argentina, the number could continue to rise if the weather over the next two months is good for the crop.

The gap between the United States and South American producers increases if other soybean-producing countries from the region are included in the calculation.

Paraguay is already the fourth largest soybean exporter. It will produce this year almost 9 million tons of the crop, while Uruguay will provide 3.5 million tons and Bolivia almost 3 million tons. Total production among these three countries amounts to more than 15 million additional tons, bringing the total Southern Cone production to 168 million tons, 55% more than the United States.