Brazilian farmers will likely plant at least 26.2 million hectares with soybeans in the next crop, up 1.1 million hectares from the current 2011-12 crop, closely watched forecaster Agroconsult said Tuesday.

The acreage would be a record for Brazil, the world's No. 2 producer of soybeans.

Agroconsult director Andre Pessoa said soybean planting is expanding rapidly in the northern and northeastern states of Maranhao, Tocantins, Piaui and Bahia. Brazil's top soybean-growing state of Mato Grosso continues to expand its planted acreage as soybean farmers move onto degraded pasture land.

The expected increase in planting bodes well for a possible recovery in the South American country's soybean crop.

Brazil harvested a record 75.3 million metric tons of soybeans in its 2010-11 crop year, with 24.2 million hectares planted.

Agroconsult expects farmers to harvest only 65.2 million tons this year due to a severe drought in southern states.

-By Paul Kiernan, Dow Jones Newswires; +55-11-3544-7074; paul.kiernan@dowjones.com

(END) Dow Jones Newswires

April 03, 2012 15:16 ET (19:16 GMT)