What if Brazil stops growing its acreage?

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For more than two decades, Brazil has helped absorb growing global demand by continually expanding soybean and corn acreage. Early conversations within Brazil suggest soybean acreage could be closer to unchanged this fall. USDA currently projects Brazil will produce 186 million metric tons of soybeans in 2026-27, up from 180 million metric tons this year. USDA currently projects Brazil will produce 139 million metric tons of corn in 2026-27 and export 44 million metric tons. World ending stocks are projected to decline from 298.7 million metric tons this year to 275.3 million metric tons next year.