BrasilAgro (LND) outlines 2025/26 crop mix, yields and cost outlook
Rhea-AI Filing Summary
BrasilAgro (LND) outlines its initial operating estimates for the 2025/2026 crop year, keeping total planted area at 172,610 hectares, in line with 2024/2025. Management notes that despite recent farm sales, area will be maintained through a new lease in Mato Grosso and recently converted land coming into production. The company aims to improve results through favorable weather, tighter operational discipline, and continued investment in technology.
For grains and cotton, production in the 2024/2025 season came in 9% below the initial estimate, mainly due to a smaller planted area, adverse weather, and operational issues. The tables show planned shifts among crops, with soybean and corn taking a larger role and significant percentage changes in several individual lines such as sugarcane and pasture area. Sugarcane performance in the current harvest has been pressured by older fields, heat, water deficit, frost in Brotas (SP), and disease in Mato Grosso, leading to an updated projection of 1.9 million tons at 71.53 tons per hectare.
In cattle raising, the sale of Fazenda Preferência triggered revisions to area and herd estimates, with lower projected hectares and headcount but higher weight gain per hectare. The company also provides updated production cost estimates per hectare by crop, highlighting differentiated cost dynamics across soybean, corn, beans, cotton, and sugarcane. Management emphasizes that all figures are hypothetical estimates, not a performance guarantee.
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Insights
BrasilAgro keeps area flat but signals mix shifts, cost and yield pressures.
BrasilAgro projects a stable total planted area of 172,610 hectares for the 2025/2026 crop year, matching 2024/2025, while adjusting the crop mix. The narrative points to more emphasis on grains like soybean and corn after adverse weather and operational issues left 2024/2025 grain and cotton production 9% below earlier expectations. Even with farm sales, a new lease in Mato Grosso and newly converted areas allow the company to hold its total area steady.
Sugarcane stands out as a challenged segment. By June 30, 2025, 585.4 thousand tons had been harvested with 75.06 tons per hectare, and the updated full‑harvest estimate is 1.9 million tons at 71.53 tons per hectare, reflecting weaker field conditions, weather stress, frost, and disease. Cattle raising estimates were cut following the sale of Fazenda Preferência, reducing area and herd but targeting higher weight gain per hectare.
The production cost table shows differing cost trajectories by crop in reais per hectare, with some lines such as cotton and sugarcane rising, while others like corn first crop are projected lower versus the prior season’s realized figures. These disclosures give a detailed operational roadmap but remain explicitly hypothetical, and actual financial impact will depend on realized yields, commodity prices, and costs across the 2025/2026 cycle.
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FAQ
What operational guidance did BrasilAgro (LND) provide for the 2025/2026 crop year?
How many hectares does BrasilAgro expect to plant in the 2025/2026 season?
How did BrasilAgro’s 2024/2025 grain and cotton production compare to its initial estimates?
What updates did BrasilAgro disclose about its sugarcane harvest performance?
How did the sale of Fazenda Preferência affect BrasilAgro’s cattle raising estimates?
What does BrasilAgro say about the reliability of these agricultural and cost estimates?
FORM
6-K
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
REPORT
OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF THE
SECURITIES EXCHANGE ACT OF 1934
dated September 3, 2025
BRASILAGRO
– COMPANHIA BRASILEIRA DE PROPRIEDADES AGRÍCOLAS
(Exact Name as Specified in its Charter)
BrasilAgro – Brazilian Agricultural Real Estate Company
(Translation of Registrant’s Name)
1309 Av. Brigadeiro Faria Lima, 5th floor, São Paulo, São Paulo 01452-002, Brazil
(Address of principal executive offices)
Gustavo Javier Lopez,
Administrative Officer and Investor Relations Officer,
Tel. +55 11 3035 5350, Fax +55 11 3035 5366, ri@brasil-agro.com
1309 Av. Brigadeiro Faria Lima, 5th floor
São Paulo, São Paulo 01452-002, Brazil
(Name, Telephone, E-mail and/or Facsimile number and Address of Company Contact Person)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
‘ 1 Material Fact BRASILAGRO – COMPANHIA BRASILEIRA DE PROPRIEDADES AGRÍCOLAS Publicly - Held Company with Authorized Capital CNPJ/MF No. 07.628.528/0001 - 59 NIRE 35.300.326.237 ESTIMATES OF AGRICULTURAL OPERATIONS CROP YEAR 2025/2026 BrasilAg ro – Companhia Br a sileira d e P r o p ried a des Agrí c olas (B 3 : AGRO 3 ) (NYSE : LND), a Brazi lia n leader i n the acquisition, deve l o pment and sale of rural pr o p e rt ie s with hi g h u pside potential, informs its shareho lder s and the general public of it s initial estimates of agricultural operation s for the 2025 / 2026 cro p year . Planted Area by Crop (hectares) Due to weather conditions, we concluded the 24 / 25 crop year with a 3 % reduction in total planted area compared to the initial estimate, which mainly affected soybean, cotton, and bean crops . Part of the area was shifted to corn, taking advantage of the more attractive price environment for this crop . For the 25 / 26 crop year, we estimate maintaining the planted area at 172 , 610 hectares, in line with the 24 / 25 crop . Even with the sale of farms, we will keep the total planted area unchanged thanks to the incorporation of a new lease in Mato Grosso and the entry into production of recently converted areas . Production per product (tons) The production of grains and cotton was 9% below the initial estimate, as a result of three main factors: (i) reduction in the planted area; (ii) adverse weather events that impacted the production cycle; and (iii) operational challenges during crop development. Change 25/ 26 Harvest Change 24 / 25 Harvest 24 / 25 Harvest (%) Estimated (%) Realized Estimated Planted area per culture (hecta re) n.a. 102.260 2% 102.043 100.082 Grains 5% 79.344 - 3% 75.541 77.545 Soybean 41% 27.328 30% 19.333 14.898 Corn and Corn 2nd Crop - 7% 6.658 - 6% 7.168 7.639 Bean and Bean 2nd Crop - 4% 29.677 1% 30.857 30.582 Sugarcane - 46% 8.649 6% 16.115 16.307 Pasture - 57% 4.112 - 16% 9.669 11.469 Cotton 17% 16.841 - 30% 14.382 20.470 Other n.a. 172.610 - 3% 173.0 67 178.90 9 Total ¹ Projeção para o total da Safra, de acordo com o Orçam ento da Companhia Change 25/ 26 Harvest Change 24 / 25 Harvest 24 / 25 Harvest (%) Estimated (%) Realized Estimated Production per product (tons) 17% 252.022 - 15% 214.742 251.788 Soybean 43% 64.872 8% 45.431 42.033 Corn 39% 99.230 32% 71.487 54.102 Corn - 2nd Crop 41% 954 - 75% 676 2.691 Beans 70% 7.274 - 28% 4.288 5.933 Beans - 2nd Crop - 51% 8.427 - 45% 17.248 31.170 Cotton - 20% 9.808 - 25% 12.187 16.199 Cotton - 2nd Crop 21% 442.587 - 9% 366.059 403.917 Total www.ri.brasil - agro.com
‘ 2 www.ri.brasil - agro.com Even while maintaining the same total planted area, we expect to achieve higher results, driven by favorable weather conditions, greater operational discipline, and consistent investments in technology. Sugar cane 2024 Harvest 2025 Harvest Change 2025 Harvest Change Sugarcane Harvest Year Result In April, we started harvesting the new sugarcane crop . Until June 30 , 2025 , 585 . 4 thousand tons were harvested, with TCH of 75 . 06 . The performance of the crop was below the expected due to a set of factors : high average age of the sugarcane field, above - average temperatures in crop formation, water deficit during the period of greater plant development and occurrence of frost in Brotas/SP . In addition, we had an incidence of disease in Mato Grosso . Given this scenario, we updated our estimates and projected a production of 1 . 9 million tons, with TCH of 71 . 53 . Cattle raising With the sale of Fazenda Preferência in June 2025, we updated our cattle raising estimates by adjusting both area and herd. Production cost (R$/ha) It is worth noting that the estimates are hypothetical data and do not constitute a promise of performance . To learn more about the Company's operating estimates, see the projections section of our Reference Form . São Paulo, September 3, 2025. Gustavo Javier Lopez CFO & DRI (%) Projected (%) Estimated Realized - 18% 1.861.794 10% 2.272.136 2.060.451 Tons harvested n.a. 26.028 5% 26.326 25.132 Hectares harvested - 17% 71,53 5% 86,31 81,98 TCH - Harvest tons per hectares Cattle Raising 24 / 25 Harvest 24 / 25 Harvest Change 25/ 26 Harvest Change (%) Estimated (%) Realized Estimated - 46% 8.649 - 1% 16.115 16.307 Hectares - 36% 11.567 - 7% 18.152 19.423 Number of heads - 15% 1.909.570 - 11% 2.236.307 2.503.926 Meat production (kg) - 4% 0,47 - 3% 0,49 0,51 Weight Gain per Day 59% 221 - 10% 139 154 Weight Gain per hectare * Already includes the sale of Fazenda Preferência Change 25/ 26 Harvest Change 24 / 25 Harvest 24 / 25 Harvest (%) Estimated (%) Realized Estimated Production cost (R$/ ha) 7% 5.247 4% 4.904 4.730 Soybean (1) - 7% 4.698 7% 5.069 4.733 Corn (1) 4% 4.211 20% 4.059 3.383 Corn 2nd Crop - 4% 4.121 54% 4.296 2.793 Beans 32% 2.691 - 8% 2.034 2.219 Beans 2nd Crop 14% 12.303 5% 10.765 10.221 Cotton 12% 15.421 20% 13.746 11.440 Cotton 2nd Crop 16% 11.735 - 5% 10.158 10.677 Sugarcane (1) includes area opening amort izat ion
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Date: September 3, 2025 | By: | /s/ Gustavo Javier Lopez | |
| Name: | Gustavo Javier Lopez | ||
| Title: | CFO and IRO | ||
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