In this file:


·         'Luck running out' for South American crop

·         Soybean market turns attention to South America



'Luck running out' for South American crop


Chad Smith, Midwest Messenger

AgUpdate - Jan 10, 2022


South America’s crop conditions recently caught the attention of the North American markets, thanks to significant weather issues in some key crop-producing areas of the continent.


“It’s generally too wet in northern crop regions and too dry in the south,” said Dr. Michael Cordonnier. “They are getting a bit more rain where it’s dry, but the damage to the soybeans and first-crop corn is already locked in.”


Cordonnier is an agronomist with Soybean and Corn Advisors Inc., and an expert on South America’s crops. He spoke over the phone from his office in Hinsdale, Illinois.


As a result of the weather, Cordonnier lowered his 2022 Brazil soybean harvest estimate by 2 million bushels to a total of 138 million metric tons, with a lower bias going forward. He also dropped his minimum harvest estimate to 134 MMT and noted that StoneX also lowered its estimate to an identical 134 million.


The one thing no one knows for sure is how the wet conditions in central Brazil will impact the country’s soybeans...





Soybean market turns attention to South America


Mark Conlon, Farm & Ranch Guide

AgUpdate - Jan 10, 2022


The soybean market has turned the page on 2021 and is now focusing its attention on South America as 2022 begins.


The U.S. soybean crop was harvested last fall and put into bins or onto rail cars and ships for sale. This time of year, with much of the U.S soybean crop sold and soybean harvest underway in South America, the market is turning its attention to the Southern Hemisphere.


“We’re watching South America. Brazil is a huge country, (and) they’re starting harvest and the market will talk about that harvest for the next two months,” said Ed Usset, professor emeritus and grain marketing economist with the University of Minnesota.”


South America, mainly Brazil but also Argentina, is expecting a large, perhaps record crop this year due in part to increased planted acreage.


“(The South American soybean) harvest has started, and the prices, I’m hearing, are cheaper than U.S. prices on the world market,” he said...