SAO PAULO, Feb 3 (Reuters) - Brazil's 2024/25 soybean

crop is expected to reach a record 174 million metric tons,

agribusiness consultancy Celeres said on Monday, bumping up its

forecast from a prior 170.8 million tons due to positive weather

conditions.

That would be 15 million tons more than in 2023/24, when

farmers grappled with adverse weather, Celeres said, adding that

the bumper crop would be driven by higher yields in Brazil's

center-western, northern and northeastern regions.

Agribusiness consultancies have been widely expecting a

record crop in Brazil this season, with many forecasting output

to exceed 170 million tons.

Celeres noted that fresh revisions to its forecast could be

made as harvesting efforts advance.

"Data on the soybean harvest, which remains delayed, will be

incorporated into upcoming production estimates, with

adjustments to the crop figure expected in the coming months,"

the analysts said.

On the other hand, consultancy firm StoneX ( SNEX ) marginally

cut on Monday its 2024/25 estimate for the world's largest

producer and exporter of soybeans by 0.3%, to 170.9 million

tons.

StoneX ( SNEX ) said the cut reflects dry weather risk in Rio

Grande do Sul, Parana and Mato Grosso do Sul states.

HARVEST DELAY

Separate data released by consultancy AgRural on Monday

showed that farmers had harvested 9% of the planted area as of

last Thursday, up 5 percentage points from the previous week but

still lagging previous seasons.

That may narrow second-corn's planting window, making it

more exposed to climate risk.

Brazil's second-corn is planted after soybeans are harvested

in the same areas and represents about 75% of national

production in a given year.

At the same time last year, AgRural said in a statement, 16%

of the total soy area had been reaped. Second-corn planting in

Brazil's center-south was estimated at 9%, up from 2.2% in the

previous week but well below last year's 27%.

StoneX ( SNEX ) also warned about the risk of second-corn being

planted outside the "ideal window." Still, the firm raised by

0.2% its second-corn crop's forecast to 101.7 million tons,

citing a larger planted area.