The world needs big South American soybean crops in 2020-21, but so far Mother Nature is not cooperating.
As can be seen on the map below, rainfall in the main centre-west and southern soybean production areas of Brazil – including the main production state of Mato Grosso - has been below normal over the past 90 days, in many cases amounting to less than half of normal or even as little as 25% of normal.
As for Argentina, rainfall in Buenos Aries province in the extreme centre-east of the country has been close to normal, but things have been drier in both Santa Fe and Cordoba to the north and northwest. Together, those three provinces make up the bulk of Argentine soy production.
Although the farming areas of central, southern, and northeastern Brazil have received scattered showers over the past number of days, there has been no widespread relief. Of particular concern is a broad area stretching from Mato Grosso, to Rio Grande do Sul – the third largest producer. Meanwhile, Argentina’s more northerly farming areas have received some rain, providing much-needed moisture for germination of soybeans and other summer crops. However, drier conditions have returned to areas farther south, which had benefited from earlier periods of favourable rainfall.
According to the government of Argentina, corn and soybeans were 46% and 32% planted in that country, respectively, as of Nov. 19. Soybean planting in Brazil reached 81% complete as of late last week compared to 79% last year.
Source: DePutter Publishing Ltd.
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