Brazil soybean harvest off to slowest start in 10 years
Brazil’s soybean harvest is off to its slowest start in a decade.
Dr. Michael Cordonnier with Soybean and Corn Advisor in Hinsdale, Illinois says the problem is it’s been too wet.
“As of late last week, harvest is about 1.9 percent (complete). And that compares to about 9 percent a year ago. And you look at the total harvesting picture, they only harvested like two and-a-half million tons of soybeans. That’s the slowest amount in ten years.”
He tells Brownfield this should extend the export window for U.S. soybeans another month.
“Certainly its turned out to be better than what was expected. Normally Brazil exports in January, but it has been extra slow this year because of late planting and because of current wet weather.”
Cordonnier still expects Brazil to produce a record soybean crop around 130 million tons, and he says the forecast looks drier next week.
Another possible issue for Brazilian farmers is trucker strikes. But Cordonnier says a strike scheduled for Monday fizzled out and he’s unsure if there will be another one during harvest.