LatinNews Daily - 15 May 2026

*Brazil’s national statistics institute (Ibge) has released its latest forecast for the 2026 harvest of grains, cereals, legumes, and oilseeds, projecting a total harvest of 348.7m tonnes (t), with the country’s main crop, soybeans, expected to post an annual harvest of 174.1m t. The latest grain harvest would mark a 0.7% increase compared to 2025, while the soybean projection would be up 4.8%. According to an Ibge press release, this would be an annual record for soybean production. The top five states for soybean production this year are expected to be Mato Grosso (50.5m t), Paraná (21.9m t), Goiás (19.8m t), Rio Grande do Sul (18.4m t), and Mato Grosso do Sul (15.6m t). While the outlook for soybean production is optimistic, another major Brazilian export crop, maize, is projected to see a decline in production. The Ibge’s forecast for the 2026 maize harvest stood at 138.2m t, which would mark a 2.5% decrease compared to 2025.