Initial Brazil soybean harvest not record-breaking, still solid

Soybean harvest in Parana, Brazil, the country’s second-largest soybean-producing state, has reached 25%, well ahead of the 2018 pace.

Brazilian government forecasting agency DERAL says, although the state suffered through a mini-drought in December, early yield results show no material losses. Only 6% of the state’s soy fields are reportedly in bad condition. The number his still higher than last year’s zero ‘bad’ fields.

DERAL says 24% of fields are considered average, compared to 14% in the last cycle. The remaining fields are considered in good condition. As it stands currently, Brazil’s crop will be short of the record-high estimates of 122 million metric tons. Weather issues in Brazil are not widespread or significant enough to put a major dent in production.

Elsewhere in South America, harvest expectations in Argentina are nearing 53- to 55-million metric tons, coming off 38 MMT in 2018.

Check Also

Soybean numbers show tight supplies moving forward

By Doug Tenney, Leist Mercantile Since December, numerous rumblings have inferred U.S. corn exports were …

Leave a Reply

Your email address will not be published. Required fields are marked *