Brazil is heading toward another record soybean harvest in 2025-26, driven by expanded acreage and favorable yields in the country’s main producing regions. However, unlike previous seasons, when record harvests were often associated with strong profitability, this year’s crop is happening in a much more challenging economic environment. Lower soybean prices, elevated production costs, and weaker export premiums have compressed margins for Brazilian farmers – pushing profitability to its lowest level in nearly two decades and close to breakeven.
Brazil Heads for a Record Soybean Harvest as Farm Margins Approach Breakeven
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