Corn and Soybean 2011 Estimates
Jan 07, 2011
The Supply National Company (CONAB) announced this morning first estimative of 2011 for coming crop: no changes for soja, kept 68.55 MMT as last month number, but corn increased from 52.5 MMT to 52.7 MMT.
Climate is ok in Brazil. Southern regions are suffering with drought in some spots, but other regions compensating.
Although cotton production is estimated in 40% more than last year, the shortage in current stocks still pushing prices to impressing level: about U$1,75/lb – farm price. Next crop bidding NY CTN11 contract even.