CONAB March Report
Mar 10, 2011
CONAB numbers comes just in line with USDA. Soybean productions estimative increases from 70,099 mmt to 70,300 mmt. Corn also increased from 54,500mmt to 55,020mmt.
We still see problems in the soy harvest in west region due to rains, and also in some spots in south. Although we may assume that good yields in other regions are compensating these losses.
But about corn, scenario is undefined as important areas are seeding too late, in the other hand, internal prices are very good stimulating the offer.