Cepea, 18/11/2024 – Recent rains interspersed with sunshine have been favoring planting of the 2024/25 soybean crop, with fieldwork now running ahead of the same period last season. It is worth recalling that the current crop began amid adverse weather conditions in Brazil. According to Cepea researchers, this improved scenario – which underpins expectations of record output in Brazil – kept buyers away from deals in the domestic spot market over the past week. Soybean growers also stayed more on the sidelines, focused on the stronger dollar and on projections pointing to growth in global oilseed supply, Cepea researchers add. In Brazil, output is estimated at 166,14 million tonnes by Conab and at 169 million tonnes by the USDA, both record volumes. Source: Cepea (www.cepea.esalq.usp.br)