Brazil 2019/2020 soybean crop seen growing by 4.7pc

SAO PAULO: Brazilian farmers may collect almost 5pc more soybeans in the 2019/2020 season than in the previous one as a survey of planting intentions shows them poised to cultivate a record area in the new cycle.

According to a report by agribusiness consultancy Safras & Mercado on Friday, local farmers will harvest an estimated 123.788 million tonnes in 2019/2020. Planted area in the next cycle, which begins around September, is seen growing by 0.8pc to 36.631 million hectares (90.517 million acres), the largest in history.