South America Calling
Alastair Stewart South America Correspondent

Thursday 12/06/12

Brazil's Government Pegs 2012-13 Soy Crop at 82.6 MMT

Brazil's Agriculture Ministry Thursday refined its 2012-13 soybean crop forecast to 82.6 million metric tons (mmt) from a range of 80.1 mmt to 83.0 mmt.

Basically favorable weather conditions have left the crop in good condition across the whole of Brazil's grain belt, the ministry's Food Supply Company (CONAB) said in its third report on the current crop.

Bean plants have fared best in Mato Grosso, Parana and Goias, the No. 1, 2 and 4 producing states, it said.

In Rio Grande do Sul, the No. 3 state, dry weather in October and November did cause a moisture deficit but that has been largely corrected by precipitation over the last couple of weeks, said the report.

This positive take on the crop outlook puts the government figure at the top end of forecasts for this season's soy, which range from 79 mmt to 83 mmt.

Local soybean output will bounce back from a drought-stricken 2011-12 in which Brazil produced just 66.4 mmt.

The CONAB figures are closely watched as its crop survey is the most exhaustive of all undertaken in Brazil.

The latest survey was conducted between Nov. 19 and Nov. 23.

CONAB pegged combined first- and second-crop corn production at 71.9 mmt, narrowing down from a range of 71.6 mmt to 72.9 mmt forecast in November.

First-crop output is seen rising 1.8% to 34.5 mmt, despite a 5.5% slide in planted area as farmers switched to soy.

Since it is planted earlier than soy, first-crop corn was worse affected than soy by the drier weather the month of dry weather in October and November. But while planting was delayed, there was no lasting damage to crops, which are responding well to showers over the last weeks, said the report.

(AG/SK)

Posted at 6:35AM CST 12/06/12 by Alastair Stewart
Comments (1)
The estimates from within the countries are most helpful. It helps to keep the stories of flood and drought in prospective. It seems things are going well. I enjoy the updates but not necessarily their implication.
Posted by Freeport IL at 8:01AM CST 12/15/12
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