Apr 08, 2010
Conab just reported 67.4 million tons of soybean is expected to be harvested this year.
MT has about 95% done, and the average is around 110bu/a. Many regions in this state lost yields for Asian rust (see last paragraph 10/20/09 post).
Northeast and North region expects better yields but rain is slowing harvest and threatening quality. Producers are very anxious, because last year a record yield was expected there, but advanced rains just blown many acres of soybean.
Southern Region (PR and RS) are doing very good in the first harvested areas. It sounds will be a very good season over there.
Paranaguá Port has huge vessel lines in the grains docks waiting for soybean. Many silos are full of corn and black beans from last crop. Also producers are not selling at this moment due to low prices, and high freight costs – this record crop just consumed all trucks!!! Mato Grosso is holding more than 30% of crop. Local market expects a increasing in the internal basis in order to motivate new sales.
It’s raining a lot in Brazil, and urban regions are suffering with flooding and ground sliding. Rio de Janeiro is the most affected area, and the Brazil most visited city is under water. Many families lost their homes, there is no traffic ways, and people were told to stay home until authorities get’s situation controlled. In the country side, rains have damaged roads and it will hold more soybeans away from ports and warehouses for some days.