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Brazilian soybean production to set record soybean

Brazilian soybean production to set recordrnsoybeanrnPhoto: Adobe stockrn08.05.2020By Susan ReidyrnSÃO PAULO, BRAZIL — Brazil’s soybean production is expected to reach a record 132.6 million tonnes next season, Reuters reported, as demand from China continues and farmers plan to expand acreage.rnrnAgribusiness consultancy StoneX said Brazil will expand soybean plantings to a record 38 million hectares in 2020-21. Last season, the nation harvested 122.8 million tonnes of soybeans.rnrnrnThe nation will need to import 1 million tonnes of soybeans this year, up from 500,000 tonnes a year ago, StoneX said.rnrnThe first corn crop planted area is expected to drop but production is expected to reach 27.7 million tonnes, an increase of about 1.6 million tonnes from a year ago.rnrnStoneX estimated soybean exports at 81 million tonnes compared to 74 million tonnes last year.