Uruguay: Oilseeds and Products Annual
Link to report:
Post forecasts Uruguay’s marketing year (MY) 2024/25 soybean up to 3.4 million metric tons (MMT) on increased soy acreage planting, driven by increased acreage in second or late crop soy due to producers fears of another dry year of La Niña weather pattern and potential disease threat to corn, preferring soy over corn. Production in MY2023/24 is also forecast up from previous estimates to 3.2 MMT on increased yields due to favorable rains both early and late in the season despite weeks of hot and dry weather from mid-January to February. Similarly, Post forecasts exports up in MY2024/25 to 3.15 MMT and 2.95 MMT in MY 2023/24 as production rebounds from a year of historic drought.
