According to the weekly analysis of the Mato Grosso Institute of Agricultural Economics (Imea), the United States Department of Agriculture (USDA) released this Monday (28) its weekly report monitoring the harvest of the soy 2024/25. The survey indicates an advance of 8 percentage points compared to the previous week, with the harvest reaching 89% of the 34.91 million hectares forecast for the season.
The current harvest pace is 11 percentage points above the average of the last five years. In addition, it is 7 percentage points ahead of the same period in the last harvest. Among the North American states, Minnesota and Louisiana stand out with 98% and 97% of harvested areas, respectively, reflecting the country's superior performance in this harvest.
In addition to the accelerated progress, the harvest is on track for a record production, with projections of 124.7 million tons — an increase of 10.02% compared to the previous harvest. The forecast of a high supply could result in a significant increase in final stocks in the country. According to Imea's analysis, these stocks could reach 14.97 million tons. This value would represent the highest level recorded in the last seven years.
This scenario of wide availability has had an impact on the international market. Soybean prices on the CME Group are under pressure due to this increase in supply. In addition, there are expectations that global supply will continue to grow, further influencing prices.
Source: Seane Lennon | agrolink
