Crop consultant Dr. Michael Cordonnier has lowered his Brazilian corn production estimate due to lower acreage and fertilizer use. Because of an oversupplied domestic market that has driven the price of corn below the cost of production, Brazilian producers are expected to switch some safrinha corn acres to winter wheat and other crops, with full-season acreage already reduced by more competitive prices for soybeans. Meanwhile, Dr. Cordonnier left his Brazilian bean estimate unchanged and says planting has picked up recently now that most areas have seen soil moisture levels recharged.
Dr. Cordonnier 2013-14 Soybean Estimates | Est. | Maximum | Minimum | 2012-13 |
in million metric tons | ||||
| Brazil | 88.0 | 90.0 | 83.0 | 82.0 |
| Argentina | 55.0 | 57.0 | 51.0 | 49.5 |
| Paraguay | 10.0 | 11.0 | 9.0 | 9.3 |
| Bolivia | 2.6 | 2.9 | 2.2 | 2.6 |
| Uruguay | 3.2 | 3.5 | 2.8 | 3.0 |
| Total | 158.8 | 164.4 | 148.0 | 146.4 |
Dr. Cordonnier 2013-14 | Est. | Maximum | Minimum | 2012-13 |
in million metric tons | ||||
| Brazil | 70.0 | 74.0 | 66.0 | 81.0 |
| Argentina | 25.0 | 27.0 | 23.0 | 26.5 |
| Paraguay | 2.5 | 2.8 | 2.1 | 3.0 |
| Bolivia | 0.7 | 0.8 | 0.6 | 0.7 |
| Uruguay | 0.4 | 0.5 | 0.3 | 0.4 |
| Total | 98.6 | 105.1 | 92.0 | 111.6 |
