South America Calling

Agroconsult Raises Brazil Soy View to 94.7 MMT

Farmers were busy harvesting soybean crops Feb. 25 at Sorriso, Mato Grosso and averaging 48 bushels per acre. (DTN photo by Marcia Zarley Taylor)

Agroconsult, a Brazilian farm consultancy, Thursday raised its forecast for the local 2014-15 soybean crop by 828,000 metric tons to 94.7 million metric tons based on the good health of the crops encountered during the first three stages of its Rally da Safra crop tour.

The hike bucks the recent trend for declining estimates due to the dry January in the top-producing Center-West region.

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The strong development of the crop in the southern states of Rio Grande do Sul and Parana and the center-west state of Mato Grosso do Sul will offset losses registered due to dry weather in Minas Gerais and Goias, said Agroconsult in a press statement.

The Agroconsult number is at the top end of forecasts for the 2014-15 crop, which range from 90 mmt to 95 mmt. The crop is about 25% harvested.

The consultancy lowered its summer corn forecast by 979,000 mt to 29.0 mmt due to poor yields in Minas Gerais. Second-crop corn production is pegged at 50 mmt, up 4% on the year before.

(CZ)

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