Conab: Brazil's corn and soybean crops in the critical field of vision
The Brazilian analysis company Conab estimates soybean harvesting in the course of 94.6 million tons approximately at the level of the U.S. Department of agriculture a few days ago. Other estimates range from 92 to 96 million tonnes. Keep the expected result on record. 86.5 million tonnes have been threshed in the previous year.
The sale of soy beans is slightly behind previous years. Behind it, a Hedgeverhalten against the deteriorating value of the Brazilian currency suspected real man on the one hand. However, also the high harvest contributing to delays. The selling restraint should also hold the prospect of further falling soya prices within limits.
Argentina soybean harvest is the good almost optimal growth conditions. The latest uSDA estimate amounts to 56 million tons. The Argentine stock market Rosario Exchange considers possible also 58 million tonnes. Argentine farmers practice the selling restraint for several years. This year, but urges the approaching record harvest on free warehouses. This year they weigh between the falling peso and soybean price, with the expected result of a larger sales volume in the harvest time in comparison to previous years.
After a main fruit, soy is in the appropriate areas of Brazil with sufficient water supply in may one year into the second fruit grown corn. This year, the late soybean harvest hampered a timely sowing on all sites. Conab estimates that the acreage will fall back slightly. High yields but contribute to a total Brazilian corn crop of 78 million tonnes. The USDA estimated 75 million tonnes.
