Brazil soybean harvest is just underway in Matto Grosso, getting started a few days before Christmas. Soybean harvest in Parana should get going within the next ten days. South American Crop Consultant Michael Cordonnier notes that rainfall increased during early December, leading to concern that wet weather could cause disease issues like mold, potentially knocking down yield numbers. However, he left the Brazil soybean yield forecast at 103 million metric tons and the corn projection at 86 million metric tons. Heavy rains fell in Argentina through the weekend, totaling 2.5 to 4 inches combined over the period.
Much heavier rains totaling up to 8 inches fell in other parts of the country, prompting some flooding concerns. The rain events missed southern Buenos Aires province, where dryness is becoming a concern. Planting in the province is up to 20 percent behind normal. Still, Cordonnier puts his Argentina soybean forecast at 56 million metric tons and the corn forecast at 35 million metric tons, with a neutral bias toward both crops.
Source: NAFB News Service