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 | 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 |
