Brazil Soy, Corn Crops Seen at Record on Planting, Rain

Mario Sergio Lima – Bloomberg, 02/07/2013

Soybean output in Brazil, set to surpass the U.S. as the largest grower, will rise more than previously estimated to a record as growers expand planting, the government said. The corn forecast was also raised to a record.

Growers will harvest 83.4 million metric tons in the 2012-2013 crop year that started Sept. 1, more than the 82.7 million tons estimated last month, the Agriculture Ministry’s crop-forecasting agency, known as Conab, said in a report today. Production will climb from 66.4 million tons collected in the past season.

Rising soybean prices are encouraging growers to expand planting, while regular showers on corn crops are helping boost yields after dry weather hurt output in the past season, Conab said. Soybean futures have risen 21 percent in New York in the last 12 months.

Read more…

About these ads

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Follow

Get every new post delivered to your Inbox.

Join 5,614 other followers

%d bloggers like this: