Soybean planting has started in Brazil following rains in Mato Grosso, Mato Grosso do Sul, Goias and in other areas of southern Brazil, says PF South American consultant Dr. Michael Cordonnier. He says planting is off to a good start in the three biggest bean-producing states: (1) Mato Grosso; (2) Parana; and (3) Rio Grande do Sul. The fourth biggest bean state is (4) Mato Grosso do Sul.
Don’t overlook the negative price impact of Brazilian rains on U.S. soybean prices. On-time planting in Brazil should bring new-crop supplies to market by mid-March (harvest starting in late-February). However, Dr. Cordonnier says, “Soybean rust could be a big problem in Mato Grosso this year. State ag officials have already expressed concern due to the presence of rust in volunteer soybeans that are growing [almost continuously] in the state.”