Questions arise in South American crops

A market analyst says as harvest picks up in South America more questions are popping up in their corn and soybean crops. 

Dr. Michael Cordonnier, president of Illinois-based Soybean & Corn Advisor, tells Brownfield the Brazilian soybean crop is meeting expectations, but…

“The big question mark in Brazil is the acreage for both the safrinha corn and the soybeans.”  He says, “There’s a very, very wide range of estimates for acreage and production.”

He says the Brazil safrinha, or second corn crop, is mixed at this point, with expectations of a smaller crop than last year…

“The northern half of the crop is doing pretty good. The problem is the southern areas.”  He says, “Thirty  to 40% of the safrinha corn has been very dry, very hot. Some areas are really bad. It’s a tail of two halves, so to speak, and everybody is lowering their expectations.”

Cordonnier says Argentina’s soybeans are much better than 2023, but their corn crop, while still expected to be larger than last year’s drought-stricken crop, is facing challenges…

“They’ve got heavy insect and disease pressure, especially corn stunt, which is passed along by corn leaf hoppers and it’s going to impact the late planted corn.”  He says, “I did lower my Argentine corn estimate, 2 million tons.”

He says Thursday’s USDA WASDE report, and the next report from CONAB, will give more insight into the size of the South American crop.   

AUDIO: Dr. Michael Cordonnier – Soybean & Corn Advisor

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