Good morning! This week, we discuss new estimates of Brazil’s soybean planting area, the Sergio Moro trial, and the state of Brazil’s carbon credits market.
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Brazil’s soybean planting area larger than expected
Brazil’s soybean planting area is 1.2 million hectares larger than projected by the National Supply Company (Conab), according to a new estimate by Agroconsult. The consultancy arrived at this figure by using a new method, satellite imagery, to make its projections more accurate. A proprietary algorithm interprets these images. It also uses the database of Serasa Experian, a credit protection agency.
By the numbers. Agroconsult’s production estimates for the 2023-2024 harvest exceed Conab’s official figures by almost 10 tons — 156.5 million tons versus 146.9 million. Looking back at the 2022-2023 harvest, we see a similar gap: 162.4 million tons from Agroconsult, against Conab’s 154.6 million.
- The Agroconsult figures would mean that Brazil’s recent harvest records were even more impressive than originally thought.
- Agroconsult also revised productivity figures for several states. Minas Gerais produced 63.4 bags per hectare,...