Latest On Brazilian Soy Harvest

With the Brazilian soybean estimated around 20-25% complete, word is filtering through that yields are a little disappointing, and that overall production may fail to hit the 57-58mmt area currently being predicted by the USDA, Celeres, Conab etc.

Agroconsult currently peg the crop at 55.5mmt, saying that early season drought in December and lower fertiliser applications have had an adverse effect on yields.

In Mato Grosso, Brazil's top producing state, the harvest is most advanced with almost half the crop already in, according to local estimates. Here it is estimated that 25% less fertiliser was used this season due to high prices and difficulties in obtaining credit. Yields are said to be coming in around 10% lower than last season at 44-45 bu/acre.

In Parana, the second top producing state, the harvest is around a quarter done, although plantings were the same as last season final production here is expected to be around 15% down on last season.

The harvest has yet to begin in In Rio Grande do Sul, the third largest producing state. Because beans are planted a little later in RGS production is thought not to have been as badly affected by the early season drought as Mato Grosso and Parana.