Paraguay could beat its historical record of soybean production this year, according to local sources. The USDA and local projects put the Paraguayan output at 10.1 million metric tons and consolidating its position as the fourth largest exporter of the oilseed in the world. The local Ministry of Agriculture says that the number of 11 million metric tons can be beat throughout the year with a harvested volume of 10.2 million metric tons already and a second crop.
In a story for the Brazilian online newspaper Gazeta do Povo, some describe the crop as “perfect”. Paraguayan soybean yields are higher than those of Brazil.
Corn prices have recovered in Brazil after a downward pressure. The reason for this recovery is that farmers have retained the grains by the end of the harvest, according to Porto Alegre consultancy Safras & Mercado. The consultancy revealed in a press release that recently most consumers were buying just to attend to the most immediate needs. “With lower stocks, consumption would tend to grow and push prices up again in the coming days,” reads the analysis.
By Luís Vieira
The Trump administration, since its beginning and prior to the election, has been criticizing trade agreements and what it calls unfair practices, mostly toward the U.S. manufacturing complex and allegedly those coming from Mexico.
Nevertheless, undesired consequences have been seen, and the most affected sector is U.S. farm business.
Mexico, one of the top buyers of U.S. food, has been announcing new sources for supplies of several products from major competitors, attempting to minimize purchases from the U.S., before any type of change in the North American Free Trade Agreeement (NAFTA) is made.
A new estimate released by Regional Consortium of Agricultural Experiments of Argentina (CREA) says that Brazil would demand imports of nearly 6.6 million metric tons of wheat this year. The projection is based on what already was shipped this year so far. The largest country of South America imported 1.67 million metric tons in the first three months of the year and 500,000 tons in March alone – 85 percent from Argentina.
The Brazilian state of Paraná, located in the south of the country, has neared 97 percent of the soybean surface to be harvested and 94 percent of the area projected to be planted of corn until last week, a local agency has informed. The crops are still considered under good conditions and the works would be finished really soon. The volume of corn produced in the state would be 13.6 million metric tons, which is 34 percent higher than last year’s output.
During this afternoon (04.17), there were some clouds with a few precipitations in the east and south of the Buenos Aires province, but with more intense rains in the Northeastern parts of Argentina, especially in the provinces of Chaco and Corrientes. On the other hand, as the soybean harvest advances, sunny days with colder temperatures are expected for the coming days – lasting at least until next Monday. A high pressure system is also forecast. The exception for this forecast in the major grain producing regions would be parts of Entre Rios and Santa, which would be affected by isolated rains in the period.
In one week, the soybean harvest in the southernmost state of Brazil, Rio Grande do Sul, has advanced 15 percentage points to 65 percent of the surface. The works are 10 percent points ahead of the same period of last year and nine percentage points ahead of the average of the previous five years, according data from the Rural Institute of Technical Assistance. The yields are higher than in 2016.
Potentially higher yields early harvested in the central producing region of Argentina would likely compensate most losses generated by torrential rains, according to the Buenos Aires Cereal Exchange. In its new estimate, the Cereal Exchange has not change its soybean production forecast, which was at 56.5 million metric tons as the harvest has advanced to 7.8 percent of the surface with an advance of 1.8 percentage points in a week and a delay of 6.2 points comparing to last year. The best progress is seen in parts of Córdoba, center and north of Santa Fe and to a lesser extent in Entre Ríos. The Buenos Aires Cereal Exchange also points out that the possibility of the appearance of more diseases has lowered with recent lower temperatures.
For corn, the harvest is at 18.2 percent of the area with an advance of 3.2 percentage points weekly. The projection for output of the cereal is at 37 million metric tons. Great potential of yields is seen in most regions.
The Brazilian National Supply Company (Conab) has issued yesterday (04.11) a new estimate for the Brazilian soybean production. The agency has put a forecast of 110.6 million tons of volume – up from 107.6 million metric tons a month ago. The United States Department of Agriculture has corroborated with that number in today’s report pegging the output projection at 111 million metric tons.
In the case of corn, the Conab estimate was incrased from 88.9 million metric tons to 91.46 million metric tons with 61.6 million metric tons being harvested in the second corn crop, which is 61 percent higher than 2016 – a year of drought in this period. By comparison, the USDA pegged the Brazilian corn production at 93.5 million metric tons.
The rains acummulated over the weekend in major producing regions of Argentina acummulated over three inches in most locations. In Junín, province of Buenos Aires, nearly nine inches dropped in the last four days – the location with more rain in that period. But if it goes as far back as January, locations in the south of Santa Fe province, such as Rosario, Chovet, María Teresa, Classon, Irigoyen and Labordeboy. In the Northwest of the Buenos Aires province, the rains continued today. On the other hand, sunny days are expected over the week for the three largest producers of grain: Córdoba, Buenos Aires and Santa Fe.