News

For soybeans, Brazil has the last word, by Manuel Alvarado Ledesma - Agrositio

Soybean
Published Nov 28, 2023

Tridge summary

The Chicago market experienced mild declines in soybeans and corn due to improvements in weather forecasts for Brazil, specifically the possibility of rain in central Brazil. However, the progress of soybean and corn planting in Brazil is still poor and more widespread rainfall is needed in order to prevent yield decline. Argentina, on the other hand, is experiencing ideal conditions for planting and has raised expectations for crop levels.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

In the last days of the Chicago market, considerable declines were observed, not only in soybeans but also in corn. This Monday was no exception, although the declines were extremely mild. January was reduced by USD 0.37 and March by USD 0.18. If one had to summarize in a few lines the reason for this change in trend, it would be logical to point to the climate in the great producing power. Since the middle of last week, different consulting firms began to report improvements in the weather for Brazil. Added to this are the climate forecasts that speak of rain for areas of central Brazil, although imprecise and erratic. It's not that the picture has improved substantially. But a door of hope was opened that did not exist until last week. The consulting firm AgRural said that the progress of soybean planting reached 74% of the planned area, compared to 68% the previous week and 87% at the same time in 2022. Either way, this progress is poor. In the south, planting is slower; the ...
Source: Agrositio
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