South America Calling

AgRural Raises Brazil Soy Crop View on Excellent South

AgRural, a Brazilian farm consultancy, late Friday raised its Brazilian 2014-15 soybean crop view by 1.5 million metric tons (mmt) to 93.4 mmt due to excellent southern yields.

The increase was also prompted by a slightly improved outlook for Mato Grosso and Mato Grosso do Sul as the middle- to late-cycle beans start being harvested.

AgRural's figure is at the low end of estimates for the Brazilian crop, which range from 91 mmt to 95 mmt. The hike is the latest in a series of estimate bumps by private forecasters in recent weeks.

The return of rainfall in February in Mato Grosso and the rest of the Center-West allowed the later-planted, longer-cycle beans to recover from the dry January. But losses were still registered across the top-producing region, averaging 3.4 bushels per acre, said the consultancy.

The south is registering record yields. Rio Grande do Sul is expected to produce an unheard-of average of 44 bpa. In Parana, the No. 2 soy state, a near-record average of 50 bpa is expected.

Meanwhile, the soybean harvest accelerated last week, despite the problems caused by trucker roadblocks.

As of Friday, the harvest was 41% complete, up from 29% last week but lagging the 49% collected at the same point last year. Late planting is the main cause of the delays, while rain hampered field work in Parana, among other areas.

(CZ)

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