StoneX, Celeres hike forecasts for Brazil's 2025/26 soybean crop

SAO PAULO, Feb 2 (Reuters) - StoneX and agribusiness consultancy Celeres on Monday raised their outlooks for Brazil's 2025/26 soybean crop, citing higher yields than previously expected in the world's largest producer and exporter of the oilseed.

STONEX

• StoneX pegged soybean output this season at 181.62 million metric tons, up from 177.61 million tons previously.

• That would represent a 7.6% year-on-year increase.

• "As the harvest progresses, the outlook remains quite positive, despite some areas showing greater variability due to weather irregularities," analyst Ana Luiza Lodi said.

• StoneX also estimated Brazil's 2025/26 first corn crop at 26.59 million tons, up from 25.98 million tons previously.

• The second corn crop was forecast to hit 106.37 million tons, above its earlier estimate of 105.82 million tons.

CELERES

• Celeres said Brazil's soybean crop is expected to reach a record 181.3 million metric tons, hiking its forecast from a previous 177.2 million tons.

• Output would exceed the 2024/25 season by 5%, Celeres said.

• "With the start of the 2025/26 harvest, some regions have surprised positively in terms of yields," the consultancy said.

• "Thanks to favorable weather during much of the crop cycle, southern Brazil stands out in the current season," it added.