Brazil's soy production, exports to fall in 2026/27, says Rabobank

SAO PAULO, Nov 4 (Reuters) - Brazil's soybean crop and exports are expected to decline in 2026/27 as farmers in the world's largest producer and exporter face tighter margins amid high borrowing costs, while Chinese demand is seen remaining broadly stable, Rabobank said on Wednesday.

Production is forecast at 178 million metric tons, unchanged from Rabobank's July estimate but down 4 million tons from the previous season. Planted area is expected to remain stable at around 49 million hectares (121 million acres) amid El Niño weather concerns.

• Brazil's soybean exports are seen at 113 million tons in 2026/27, down from 114 million tons in 2025/26

• China is seen buying more US soybeans following a Beijing-Washington deal, with total Chinese soy imports expected to remain stable

• Rabobank grain and oilseed analyst Marcela Marini said Brazil's crop was in good shape, with planting progressing well

• Rapid planting is expected to support Brazil's second crop, typically corn or cotton, Marini said

• El Niño is cited as a potential weather risk for the season