As we go through the winter, it is obvious that the markets are watching what happens in Brazil. They are passing our numbers for exports and are in the midst of their growing season. However, they are also getting much attention because the conditions in the south had started out dry in the midst of their rainy season, which will be ending soon. But in other areas of the country, they were experiencing too much rain.
Dr. Michael Cordonnier is an agronomist with Soybean & Corn Advisors, Inc. He talks about the effect these weather patterns are having on Brazil’s ag land.
In the north, they were getting rains that put them almost 2 months behind in planting.
Now, don’t be too worried. Even with a yield setback, Brazil still produces a lot of soybeans. We also need to factor in what Argentina is producing now that they are getting rains.
Argentina is already doubling last year’s numbers.
Cordonnier’s current estimate for Brazil’s soybeans is 149 million metric tons. Brazil’s corn is estimated to be 115 million tons. Argentina’s soybean estimate is 52 million metric tons, and the corn is 56 million. Paraguay’s soybean estimate is 10 million metric tons, and Paraguay’s corn is estimated at 5 million.
