January weather poses challenges for some global crops
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게시됨 2022년 1월 14일
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Weather stresses in South America lifted oilseed prices over the holidays and into the new year but big wheat harvests in Australia and Argentina put downward pressure on the price. However, wheat still has support from weather issues threatening the American winter wheat crop and North Africa. Last week, two private forecasters downgraded their expectations of Brazil’s soybean crop, reflecting the La Nina hot dry weather in the southern provinces.
원본 콘텐츠
Crop conditions in northern growing areas remain mostly favourable but are not good enough to completely offset the damage in the south. AgRural cut its soybean forecast by 11.3 million tonnes to 133.4 million, while consultancy StoneX pegged the crop at 134 million tonnes. These forecasts are about 10 million tonnes less than the December United States Department of Agriculture estimate of 144 million tonnes. The USDA will likely trim its outlooks in coming reports. Estimates of the first crop corn production likely will also fall in coming weeks. Other South American countries are also experiencing hot, dry weather. Early planted corn is already suffering in Argentina and if the hot, dry forecast for the rest of January holds true then production forecasts will have to be trimmed. Currently the Buenos Aires Grain Exchange sees a 57 million tonne corn crop and 44 million tonnes of soybeans. The estimate was made before the stressful weather of December and early January. Drought ...