Crops Downsized Significantly In Southern Brazil

Soybean and corn crop estimates in the Southern Brazilian state of Parana have been cut heavily by drought, according to the state's agricultural secretariat, or Seab.

Soybean output in Parana, Brazil's second highest soybean producing state, will be 10.2mmt, say Seab, more than 20% down on its previous estimate of 12.8mmt.

Corn production the coming first season (Brazil has two corn crops per year) will now total 5.9mmt, down 32% on Seab's original estimate of 8.7mmt.

These significant reductions point ominously to serious losses south of the border in Argentina where the drought has, if anything, been even more severe.