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PT_BR 
The global soybean supply and demand balance for 2025/26 indicates stable stocks, with more contained international prices. While American production is expected to be lower, Brazil projects a new record of 175 million tons, keeping the world supplied, according to information from the Itaú Unibanco Agricultural Consulting and Economic Research firm.
Brazil's cultivated area is expected to grow at a slower pace than in recent harvests, but will still show expansion, with an estimated average yield of 3.6 tons per hectare, slightly below the 2024/25 harvest. Argentina also contributes to the global scenario, with expected production of close to 50 million tons.
Photo: Gilson Abreu
Weather is a critical factor: La Niña could reduce rainfall in southern South America and increase volumes in the Center-West and North of Brazil. For producers, the sales pace of the 2025/26 harvest remains slow, with only 20% sold through August, below the historical average, pressured by subdued international prices and expectations of a record harvest.
If the rains remain favorable and planting progresses as expected, Brazil will be able to further increase supply, while Argentina can influence premiums in the domestic and international markets, according to information from the Itaú Unibanco Agricultural Consultancy and Economic Research.
