South American crop consultant Dr. Michael Cordonnier says the Brazilian bean crop is a big disappointment due to the return of dry weather over southern Brazil. He has lowered his Brazilian bean crop estimate by 1 million metric tons (MMT) from last week to 67.0 MMT.
Meanwhile, Dr. Cordonnier says a lot of safrinha (second season) corn is being planted. While the condition of the safrinha corn crop is generally very good right now, he warns that this is a risky crop as yields can be reduced significantly if conditions turn dry.
In Argentina, Dr. Cordonnier reports recent rains are beneficial for late-maturing soybeans and late-planted corn. He left his Argentine soybean and corn crop estimates unchanged.
|
Dr. Cordonnier 2011-12 Soybean Estimates
|
Est.
|
Maximum
|
Minimum
|
2010-11
|
|
in million metric tons
|
| Brazil |
67.0
|
69.0
|
65.0
|
75.5
|
| Argentina |
47.0
|
49.0
|
45.0
|
49.0
|
| Paraguay |
5.0
|
6.0
|
4.0
|
8.3
|
| Bolivia |
1.7
|
2.0
|
1.4
|
1.6
|
| Uruguay |
1.7
|
2.0
|
1.4
|
1.5
|
| Total |
122.4
|
128.0
|
116.8
|
135.9
|
|
Dr. Cordonnier 2011-12
Corn Estimates
|
Est.
|
Maximum
|
Minimum
|
2010-11
|
|
in million metric tons
|
| Brazil |
58.0
|
62.0
|
55.0
|
57.5
|
| Argentina |
20.0
|
22.0
|
16.0
|
22.5
|
| Paraguay |
1.8
|
2.0
|
1.6
|
2.0
|
| Total |
79.8
|
86.0
|
72.6
|
82.0
|
See Comments
