Agroconsult cuts Brazilian soybean crop estimate

March 15th, 2012

By:

Category: Oilseeds

Soybeans take a hit(MarketWatch) – Brazilian research firm Agroconsult slashed its estimate for the country’s 2011-12 soybean crop by about 4% Wednesday, as analysts in the fields measured losses of up to 50% in drought-stricken southern states.

Agroconsult now sees the crop, which is about half harvested, yielding 67.1 million metric tons of soybeans, compared with a previous estimate of 69.9 million tons.

By the latest forecast, the crop should fall 11% short of the prevoius year’s bumper soybean output.

“The lack of rain in the south is the main reason for the losses, particularly in the states of Rio Grande do Sul and Parana where the crop has fallen by 50% and 16%, respectively,” Agroconsult said in a presentation.

Agroconsult sees Brazilian soybean farmers harvesting 44.5 60-kilogram (132-pound) sacks per hectare, a 14% decline from last year’s average productivity.

Add New Comment

Forgot password? or Register

You are commenting as a guest.