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Brazil soybean harvest more than a quarter complete

Brazil’s record-large soybean crop is beginning to come online.

Michael Cordonnier, president of Soybean and Corn Advisor, says harvest progressed about ten percentage points on the week to 27 percent.

“It was a good week for harvesting last week, especially in Mato Grosso which is now 50 percent harvested. And it should be another good week this week because the weather is going to be somewhat drier.”

He tells Brownfield the Brazilian crop will weigh on U.S. soybean prices.

“Especially given tensions between the U.S. and China. China is going to want to buy all they can from Brazil for sure, and Argentina. So it’s going to slow down U.S. soybean exports for sure.”

Cordonnier says Brazil’s second-crop Safrinha corn is a little behind, with about 25 to 30 percent expected to be planted outside the ideal planting window.