Expected high soybean harvests in South America - still risks
Bound for the soybean harvests in South America. In Brazil are the early threshing areas harvested and have made corn place the second fruit. The estimates amount to a harvested area in the order of 35%. Briefly, the harvesting operations are pending in Argentina.
Brazil soy crop has been estimated in a wide range from 90 to over 96 million tons so far. 86.7 million tonnes were achieved in the previous year. Phased approach and regionally different distributed dry periods in Brazilian growing areas have affected the formation of income. The latest estimates amount to rd 93 million tons, still a record.
Truck driver strikes have delayed the recent removal from the main production areas of Mato Grosso with the result that the planned shipments not in full scale could take place. The strike is now enclosed and n win transport supplies back to drive.
Usually the Brazilian dock workers take the opportunity, with the help of strikes their wage claims to enforce. So far, it is still not to see.
The previous development of the weather was ideal for the soybean in Argentina . According to the harvest results were estimated in recent times higher. The top result was estimated at 59 million tonnes. The latest USDA estimate was raised t original 54 million to 56 million tons. However, heavy rainfall have pulled a part of Argentina crop areas affected. How big are the damage estimate, is still open. It is assumed that is still an above-average result in Argentina is achieved.
In the smaller States Paraguay and Uruguay it is good average crops in the upper midfield.
From the 3 production areas of Brazil, Argentina and Paraquay expected a total harvest of 160 million tonnes compared to the previous year with 148 million tonnes in the average case.
In the autumn of 2014, the United States has a record harvest of 108 million tonnes (previous year 91.5 million tonnes) introduced. A considerable part of the North American crop was used to populate the strongly fallen inventories back satisfactorily for the consumer. In spite of the facilities therefore US Soybean prices gave so far only limited. The price decline is again under the current pressure of a paragraph damaging U.S. strong dollar. The current marketing of the South American crops will put additional pressure on prices.
However, the confounding factors such as weather conditions, strikes, and sales activities play still has a significant role in the future development of the price.
