Long-awaited rains improve crop prospects for soybean in Brazil in 2020/21 MG

2020-11-12 12:05:09
Machine translation
Long-awaited rains improve crop prospects for soybean in Brazil in 2020/21 MG

Brazil at the end of the season continues to export soya and maize and undertake sowing of these crops for the new harvest. Precipitation is held in the last week and will go in the future, accelerate sowing and improve prospects of future crops. Due to high prices and strong demand from China, Brazilian farmers by 3.8% expanded acreage of soybeans.

 

Conab Experts in the November report raised compared to the October estimates of the forecast of sowing areas of soybeans by 0.4 million hectares to 38.3 million hectares (36.9 million ha in 2019/20 MG), and the soybean crop in Brazil to 2020/21 MG by 1.3 million tonnes to 135 million tonnes (of 124.8 million tons in 2019/20 MG). Despite the prolonged drought caused by the delay in sowing of soybean, the recent rainfall made it possible to complete sowing in optimum terms.

 

at the same time, the forecast corn production in Brazil in 2020/21 MG lowered 0.3 million tons to 104,9 million t (102,5 million tonnes in 2019/20 MG), of which corn the first harvest will gather 26,5 (25,7) million tonnes, the second crop (safrinha) – 76,8 (75,1) million tons.

 

Also due to lower than expected wheat yields in the state of Rio Grad do Sul experts Conab lowered 0.5 million tons to 6.4 million tons of the total harvest forecast for wheat in the country at the end of October collected on 80% of the area. Forecast of wheat imports increased 0.1 million tons to 6.8 million tons (6.7 million t in 2019/20 MG), whereas the forecast of domestic consumption due to higher prices lowered 0.5 million tons to 11.8 million tons (12.5 million tonnes in 2019/20 MG).

 

national Association of Brazilian grain exporters Anec increased the forecast of corn exports in November to 4.83 million tonnes, compared with estimates last week, which is 4.15 million tonnes at the same time the forecast of soybean exports in November increased from 688,12 to 762,71 thousand tons, and soybean meal – from 1.21 to 1.41 million tons.

 

If projections are correct, within 11 months 2020 Brazil exports 82,13 million tons of soybeans, 29,41 million tons of corn and 15.8 million tons of soybean meal.

 

in Late January, Brazil resumes exports of soybeans, new crop, which may reduce market prices amid rising inventory in China due to active purchases of soybeans from the United States.

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