Highlights
As of Tuesday afternoon, the weather model runs are showing the return of a wet pattern for Northern Brazil and dryer weather for Argentina and RGDS (South Brazil) for the 6-15 day range. That means more delay for the harvest of soybeans in the northern areas of Brazil, later safrinha corn planting and smaller Argentine crops.
Kory Melby said yesterday the second crop corn planting pace in Brazil’s Mato Grosso is the slowest since 2011 but similar to 2021. The 2011, 2016 and 2021 harvests were the state's worst yielding second crop corn in recent memory.
Dr. Cordonnier estimates the Argentina soybean crop at 49 million mts (USDA 52), a 2 million mts reduction from his previous number and trimmed 1 million mts off Argentina’s corn crop to 47 million mts (USDA 51). His Brazilian soybean estimate was left at 170 million mts (USDA 169).