The Institute of Geography and Statistics (IBGE) informed that Brazil is going through a recession since it has had two consecutive quarters with a decrease in its Gross Domestic Product (GDP), which already fell by 1.5 percent between January and March.
This new recession represents the largest drop in the country's history since 1996 when Brazil faced a severe financial crisis.
So far, however, agricultural activities have grown by 0.4 percent, driven mainly by soybean and coffee production.
Kanlaya Barr, senior economist for @JohnDeere, says they don’t expect the U.S. general economy to fully recover to pre-COVID levels until 2022. China will recover quicker. Countries like Brazil are expected to take longer to see a recovery. #FJFieldDayspic.twitter.com/CQwhgQ6nTw