BRAZIL - Over the weekend rains have been favourable in Mato Grosso, one of Brazil’s largest soybean growing states, providing good moisture for the growing crops.
There have also been substantial levels of precipitation in Rio Grande do Sul and Parana, also large soybean growing states.
Rain is forecast to continue over the next week (MDA Weather Services) for these regions, supporting a positive outlook for crop development over the next few days.
Favourable weather looks supportive of the recent upward revision of Brazilian soybean production by the USDA.
2014/15 production was revised up to a new record 95.5Mt in yesterday’s January supply and demand report as higher yields were projected for the major producing states.
TheCropSite News Desk