South America Calling
Alastair Stewart South America Correspondent

Monday 01/14/13

Brazil's Soybeans Buoyed by a Dousing

Brazil's top-producing center-west soybean belt got a dousing during the weekend and more rain is predicted for the rest of the week, eliminating the only major weather question mark about the local crop.

Farms in Mato Grosso, Brazil's No. 1 soy state, enjoyed up to 2 1/2 inches of rain during the weekend, according to Somar Meteorologia, a local weather forecaster.

The showers will be particularly welcome in the south of the state and in neighboring Mato Grosso do Sul, which suffered a dry December.

More showers are due Wednesday and dampness is set to remain through till next weekend.

The precipitation will hamper early season harvesting -- Mato Grosso has collected 0.9% of the crop -- but the wider benefits far outweigh that inconvenience.

Rain is also forecast for soybean districts in Bahia, which has been suffering dry early summer weather.

In contrast, southern soybean fields will see the abundant rains of the first two months of the season start to disappear, Somar warned. No rain is predicted for the next week and longer-term charts indicate drier weather in January and February, it said.

The generally robust development of the Brazilian crop prompted USDA to raise its Brazil crop view from 81 million metric tons (mmt) to 82.5 mmt. Meanwhile, earlier Monday, Celeres, a local farm consultancy, raised its soybean crop view from 79.0 mmt to 80.4 mmt.

Alastair Stewart can be reached at alastair.stewart@telventdtn.com

(AG)

Posted at 1:41PM CST 01/14/13 by Alastair Stewart
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