Grain production is expected to reach 358.6 million tons in the 2025/26 crop year.

Among the cultivated crops, soybeans stand out with an increase of 8.8 million tons compared to the volume obtained in the previous harvest. With the harvest practically finished, production in the 2025/26 cycle is estimated at 180.3 million tons. According to the Conab Bulletin, this result reflects the growth in the area dedicated to the oilseed, combined with a good technological package and favorable weather conditions this season.

Corn, the main crop cultivated in the second growing season, has an estimated total production of 140.5 million tons.

(summing the three harvests). The harvest of the product sown in the first harvest has already reached 87.7% of the area and should reach 29.3 million tons, an increase of 17.7% compared to the same period of the 2024/25 season.

In addition to the larger area dedicated to grain in the current cycle, productivity also shows an increase of 7.6%, estimated at 7,110 kilograms per hectare, establishing a new record in the Company's historical series for the first grain harvest.

The second corn crop is in its initial harvesting phase, with an expected production of 107.9 million tons. As for the third corn crop, planting is nearing completion, and the company expects a harvest of 3.3 million tons.

Other cultures

Another important product in the second crop is cotton. Cotton production is estimated at around 4 million tons, a reduction of 2.51 TP4T compared to the 2024/25 crop, influenced by the smaller planted area. In the case of sorghum, which registers the fifth largest production among the grains analyzed by the Company, the harvest is estimated at 7.62 million tons, an increase of 1.5 million tons when compared to the volume obtained in the last crop, representing a rise of 24.91 TP4T.

An important product for the domestic market, the rice harvest is practically complete, with an estimated production of 11.1 million tons, 13.21 TP4T below the volume produced in the last harvest. The decrease reflects a smaller area allocated to the crop due to the market conditions for the cereal.

For beans, Conab expects a total harvest, considering all three crops of the grain, of close to 3 million tons.

The volume for the current cycle represents a slight decrease of 0.5% compared to the result obtained in the previous season. Even with the expectation of lower production for both feedstuffs, the current estimate guarantees supply in the domestic market.

Among winter crops, wheat stands out. Sowing of the cereal is progressing in all producing regions of the country, reaching 45.31 TP4T of the planned area. For the current cycle, the Company forecasts a smaller area dedicated to the cereal, which should reflect in a drop in production, estimated at around 6.3 million tons.

Market

The record soybean production allows for a slight increase in exports, estimated at 116.1 million tons, in addition to a larger volume of the oilseed destined for processing, projected at 61.58 million tons. As a result, the carryover stock of soybeans should settle at around 9.2 million tons.

Conab also made adjustments to its supply outlook projections for corn, given the adjustment in the projection for total production in the current crop year, with carryover stocks of the grain potentially reaching 13.25 million tons by the end of January 2027.

The expected ending stock of beans at the end of December has also been updated to 288,500 tons of the legume.