@Fernandez_Ing@AgriCensus If only. Sometimes we don’t mind being the sole voice, but in this instance we were overly optimistic, which is now painfully clear. The story was taken down, but remained accessible via search engines so we have now removed it entirely. I can only apologise for the confusion.
Is the glass half empty or half full for #soybeans? After good rains last week, forecasts show a drier pattern in central #Brazil. It’s a problem for areas in Mato Grosso, but Goiás, Mato Grosso do Sul & Matopiba have plenty of moisture and forecasts for the South look beautiful.
Forecasts are improving, but still far from normal. Do #soybean planting delays result in lower yields? No! Narrower planting window for 2nd corn crop in early 2021? Yes. Extremely tight soy supplies in Jan 2021? Big yes. Weekly planting update for clients this Friday, 6:45 BRT.
#Brazil exported 1.005 mmt of #corn in the 4th week of July (20-24). It was the first week above 1 mmt since Dec 2019. But shipments have been slower than expected now in July, totaling 2.736 mmt as of the 24th, according to data released today by the Ministry of Economy.
This chart helps explain why #Brazil exported so much in 1H 2020 and has virtually run out of #soybeans so early. While local buyers fight for the small amount that farmers still have, it’s time to focus on the next crop – and sales for delivery in 2021 have been pretty strong.
As expected, #Brazil’s #soybean exports established a massive new record for the 1st half of the year. Soy shipments remain strong, but will decrease in the coming months, as usual. But now it’s time to place your bets for #corn.
corn = 92 million + soybeans 83.8 million = 175.8 million planted acres total. So the question is what happened to all the corn and bean acres from the prospective plantings? Will be interesting to dig into this one.