South American crop consultant Dr. Michael Cordonnier says after a brief period of improved rainfall in mid-January, southern Brazil has once again been plagued by dry weather for the last three weeks. The earlier dryness severely impacted the full-season corn crop and early-maturing soybeans in Parana, Santa Catarina and Rio Grande do Sul, and now the renewed dryness is taking a toll on the later-maturing soybeans as well as the early development of the safrinha corn crop.

"The situation for the soybean crop in Rio Grande do Sul has deteriorated over the last several weeks as hot and dry weather continues to take a toll on the crop," says Dr. Cordonnier. "The adverse conditions could not have come at a worst time as the crop which is in the midst of flowering and filling pods. Soybean losses across Rio Grande do Sul are currently being estimated in the range of 40% to 50% and losses will continue to mount as the dry weather persists."

Earlier this week Dr. Cordonnier lowered his estimate of the Brazilian bean crop by 1 million metric tons (MMT) to 69 MMT -- below last year's crop of 75.5 MMT.

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