South American crop consultant Dr. Michael Cordonnier is currently in Brazil and says he has never seen “this much safrinha corn planted in the state of Mato Grosso.” As a result, he has raised his Brazilian corn estimate by 2 MMT to 72 MMT. Dr. Cordonnier left his Brazilian soybean estimate unchanged at 82 MMT. He says a disappointing soybean crop in Mato Grosso is being offset by a “very good” crop in Rio Grande do Sul, which has received timely rains to fill pods. He also left his Argentine crop estimates unchanged from last week.
Dr. Cordonnier 2012-13 Soybean Estimates | Est. | Maximum | Minimum | 2011-12 |
in million metric tons | ||||
| Brazil | 82.0 | 84.0 | 80.0 | 66.5 |
| Argentina | 50.0 | 53.0 | 47.0 | 41.0 |
| Paraguay | 8.75 | 9.0 | 8.0 | 4.0 |
| Bolivia | 2.2 | 2.5 | 1.8 | 2.2 |
| Uruguay | 2.0 | 2.3 | 1.7 | 1.6 |
| Total | 144.95 | 150.8 | 138.5 | 115.3 |
Dr. Cordonnier 2012-13 | Est. | Maximum | Minimum | 2011-12 |
in million metric tons | ||||
| Brazil | 72.0 | 77.0 | 69.0 | 72.5 |
| Argentina | 24.0 | 26.0 | 22.0 | 21.0 |
| Paraguay | 2.0 | 2.4 | 1.7 | 1.9 |
| Bolivia | 0.7 | 0.8 | 0.6 | 0.7 |
| Uruguay | 0.4 | 0.5 | 0.3 | 0.4 |
| Total | 99.1 | 106.7 | 93.6 | 96.5 |
