Brazil
Pay attention to the national corn yield, the number of planted corn acres and Brazil’s corn and soybean crops.
Brazil is seeing a sudden shift in weather with heavy rains now forecasted over the next two weeks. While it will bring relief to drought areas, it could cause harvest delays and issues planting the safrinha corn crop.
According to the meteorologists at BAMwx, the upcoming month in Brazil could be comparable to this past August for U.S. soybeans.
Analysts say it’s go-time for the impacts of South American weather, but Argentina’s new president, and major policy changes, also spooked the markets this week. Chip Nellinger and Brian Grete explain why.
AgResource Company forecasts 80% of the soybean crop is planted as of today, but for some farmers it’s been a year of replant for both corn and soybeans.
Fields in central Brazil are baking in high temperatures and low levels of moisture. One meterologist says farmers there are now questioning whether they will plant their second corn crop, the so-called safrinha crop.
The focus of the soybean market continues to be South American weather and crop expectations. Jerry Gulke says whether or not forecasted rains occur will set the direction for the market into next week and beyond.
Recent WASDE reports had assumed another record Brazilian soybean crop and Argentina returning to normal, but the El Niño weather pattern might have something to say about that.
Let this sink in: One state in Brazil — Mato Grosso — produces the equivalent of Illinois and Iowa’s soybean production combined. Here’s a look at South America’s growing regions, crop calendar and production capacity.
Weather in Brazil is as big of a market mover as forecasts in the U.S. Why has Brazil grown so aggressively? One economist recently spent six months in Brazil and says a combination of factors is aiding their growth.