January 10, 2008

Weather cooperating for Brazil's new soy crop

It's "so far, so good" for Brazil's new soy crop, with 95 percent of the national crop sprouting leaves, 50 percent flowering and 13 percent already growing bean pods, agribusiness consultancy Celeres said on Wednesday (January 9, 2008).

Earlier this month, agronomists and meteorologists warned that the 2007-08 soy season wouldn't be as weather-friendly as the 2006-07 season. Meteorologists said climate phenomenon La Nina would bring less rain to the soy belt in the center-west.

According to local weather service, Somar, ground water levels are near full capacity - 60 percent or more - throughout all of the center-west and most of the south. Only center and western Rio Grande do Sul is a bit drier, with smaller producer regions in the north the most dry of all, Dow Jones Newswires reported Tuesday.

In Mato Grosso, the No. 1 producer state, 78 percent of the crop is currently flowering as of Jan. 4, compared with 53 percent as of Dec. 28. Another 30 percent is currently forming the bean pods that hold the soy.

Parana, the No. 2 producer, has about 46 percent of its crop in the flowering phase and 10 percent growing pods at this time.

Meanwhile, the No. 3 producer, Rio Grande do Sul, has 21 percent of its crop flowering.

Celeres expects Brazil to harvest around 60 million  tonnes of soy in the 2007-08 crop.

The harvest starts in March.

Brazil is the world's No. 2 soy producer behind the US.