In 2017/18 MG Brazil is the second time to a record soybean crop
in the Near future, the Brazilian analysts will begin to increase forecasts of soybean production in the 2017/18 season, as the weather favors the development of crops. Now four of the largest analytical agencies in the middle evaluate future harvest in 109,43 million tons
In the first balances usually lay the risks of adverse weather conditions. However, the analysis of the current state of the crop allows to predict the increase in gross harvest of soybeans to 110 million tons and even higher in the case of complications of agrometeorological conditions. Favorable weather will allow you to collect 114,7 million tons of soybeans, which almost meet record 2016/17 MG.
Experts INTL FCStone planning to improve the forecast of soybean production in the current week, and does not exclude the possibility to record levels.
currently, the members of the oilseed market are afraid of the development of the phenomenon of La Nina, but experts at the South American weather Bureau Rural Clima consider it unlikely that it will intensify in the current season.
the January soybean futures in Chicago rose in July by 1% to 369,2 $/t due to the depreciation of the dollar and granem the pace of soybean exports. Price supports delayed sowing in Argentina, caused by drought conditions.