Still Raining a Lot
Mar 15, 2011
While these sad disasters in Japan is dropping down prices in CBOT with worries about the demand - at least in short term, we see climate reducing the offer here in Brazil. Rains is putting harvesting season in serious dangerous, majorly in Mato Grosso do Sul, where some analysts is projecting a reducing in 20% to 30% of the crop. Some private Ag survey agencies are estimating a total soybean crop around 68mmt, 2,3mmt less than last official estimative.
We are trying to harvest in North, but for each day of harvest, we stop two days due to rains. As well in this region the season starts in early march, so we can say only the early soybean is delayed, and no losses is estimated so far.
In Southern Brazil, there was also losses due to rain, or drought… even though this region registered a record crop.
As commented in last post, it’s now ending the 2nd crop corn seeding window in the West Center region, so corn area shall reduce. Corn production may have already lost about 3mmt. From 55mmt to 52mmt in the end, I would suggest.