StoneX ticks up outlook for Brazil's 2025/26 soybean crop

SAO PAULO, Oct 1 (Reuters) - Brazil, the world's largest producer of soybeans, will likely produce 178.6 million metric tons for the 2025/26 harvest, consultancy firm StoneX estimated on Wednesday, a 0.3% improvement from its previous forecast in September.

"Although planting is just starting in most producing regions, we have seen a favorable weather for the progress of fieldwork," StoneX analyst Raphael Bulascoschi said in a report.

StoneX has said it expects larger planting areas and better yields for this season's crop.

If farmers produce the amount predicted by StoneX, Brazil's 2025/26 soybean crop would be more than 5% bigger than the previous season.

StoneX meanwhile maintained its estimate for Brazil's first corn crop at 25.6 million tons, and said it will release its initial estimate for the country's second corn crop in its November outlook update.

The second crop, which is planted after soybeans are harvested in the same areas, represents the bulk of Brazil's corn production.