By Daniele Siqueira
I’m here again to bring you a new update on Brazilian soybean and corn crops. In a normal year, about 20% of Brazil’s soybean area would be harvested by now. This year, less than half of that is harvested so far, because the crop was planted later than normal (it was too dry in September and October) and also because overcast skies and constant rains in the second half of January slowed down the crop development.
The delayed crop, combined with virtually non-existent beginning stocks, has had an impact on Brazilian supply and exports, as I warned here months ago. In January, Brazil exported only 49.5 thousand metric tons of soybeans — the weakest result for the month in seven years. In January 2020, shipments reached 1.4 million metric tons.
In February, the vessel lineup shows that 9 million metric tons of soybeans could be shipped by the end of the month.… Continue readingRead More »