A report from the Buenos Aires Cereal Exchange revealed that varied intensity precipitations and heat will be taking place in several provinces of Argentina. So far, on the other hand, 80% of the soybean crop is considered to be “excellent or very good”, and the remaining 20% is defined as “very good” or “good”.
The planting of the second corn crop in the Brazilian state of Mato Grosso reached 3.1 percent of an expected surface of 6.9 million acres. But according to the Mato Grosso Institute of Agricultural Economics, that winter corn area could reduce even more. With today’s estimate, it would a reduction of 12.18 percent compared to last year. Added to the poor prices, farmers fear that some regions may not receive enough rain in April or May.
The Buenos Aires Cereal Exchange reported this Monday that soybean planting in Argentina reached nearly 98.2 percent of the expected area. The surface estimated is at 50.4 million acres.
Parts of Northern Argentina are delayed due to the lack of moisture, but may finish the planting process as more rains come to that region of the country.
Farmers from the Brazilian state of Mato Grosso are not happy with the current prices of soybeans. The price for March deliveries jumped to R$ 50 (US$ 19.40) per bag – up from R$ 42 last week – but still farmers are unwilling to sell the oilseed.
Fiscal measures of the Brazilian government forced a devaluation of the Real. As a result, grain growers feel retracted to sign new contracts. An analysis from the Mato Grosso Institute of Agricultural Economics says that if this price scenario does not improve, the profitability of this season will be compromised.
Yesterday, Brazil’s major bank Bradesco released a forecast that affirms that soybean and corn prices would improve in a mid-term perspective. The main reason, especially for soybeans, are the concerns with dry areas of the South American country. The domestic corn value would be improved because of lower productivity and a major delay of the summer crops.
There was a bounce of 26 percent of the cost of transport of cereals, oilseeds, potatoes and other products in the province of Buenos Aires in Argentina, the provincial transport agency announced. The announcement came after an agreement was signed by sectoral organizations, farm associations and province authorities.
The heat in the center-western state of Goiás in Brazil already provoked losses of nearly 1.4 million tons of soybeans, which is about 15 percent of what was expected to be harvested, data from the Agriculture and Livestock Federation of Goiás revealed.
Even with a possible comeback of the rains, the losses are considered irreversible because the drought coincided with the blossom or filling period.
Heavy and short-timed rains have created some damages and even some losses of soybeans in parts of Argentina, but overall the crop is considered good. According to a report from the Rosario Board of Trade, nearly 51 percent of the crops in the country are regarded as “very good” and 32 percent is defined as “excellent”. The average yields are at 20.2 bushels per acre.
The soybean harvest in the Brazilian state of Mato Grosso reached today 7.7 percent of the expected surface, data released by the Mato Grosso Institute of Agricultural Economics (Imea) reveals. The works have evolved 3.6 percent since last Friday. Now, the harvest advanced 1.9 percent forward compared to 2013.
The crops are being punished recently by strong heat and erratic rainfall. The average for the state forecast in the previous week was 47.5 bushels per acre – before the dryness.
Soybean growers of the Brazilian state of Mato Grosso are eager to see regular rains in order to advance the harvest faster and to have a good development of the crop, weather service Somar Metereologia forecasts. So far, according to reports, the state had just seen high temperatures and irregular rains. The moisture is considered vital because most areas are at the grain filling stage. A cold front was formed in the southern state of Rio Grande do Sul and would spread into center-western states.
Cases of the Soybean Looper and the Silverleaf Whitefly were reported in Mato Grosso, but in isolated locations.
Corn planting for the second crop in the Brazilian state of Mato Grosso has already started. According to the Mato Grosso Institute of Agricultural Economics, the area reached is next to one percent of the total surface expected. The institute forecasts a production of 14.6 million in Mato Grosso alone – a fall of 17.6 percent compared to 2014.
Advanced sales reached 22.3 percent of the total. This indicates a higher demand than January of last year, when there were no future sales.