Crop Consultant Dr. Michael Cordonnier cut his Brazilian soybean crop estimate by 4 MMT to 130 MMT. He explained soybeans could not recover from record or near-record temps coupled with intense sunlight, which resulted in extreme moisture deficits for southern Brazil areas, including western Parana, southern Mato Grosso do Sul, Santa Catarina and Rio Grande do Sul.
Cordonnier lowered his Argentine soybean production forecast by 1 MMT to 42 MMT. He noted less- than-optimum plant populations and soybean planting was completed later than average as the reasons for his cut. Late last week, soybean planting in Argentina was reported 99.3% complete, compared to 100% last year and 100% average.
Cordonnier left his Paraguay soybean production estimate at 6 MMT. Soybean harvest in the country is approaching 50% complete and yield reports continue to be very disappointing, which is no surprise given the extreme weather they have experienced the last few weeks, according to Cordonnier.
