Brazil completes soy planting, crop estimated at 112.9 million mt: AgRural

Brazil has completed soybean planting for the 2017/2018 crop and is expected to produce almost 113 million mt of beans when it starts its harvest in two months, according to Brazil-based consultants AgRural.

With the exception of occasional problems in some states, the crop will produce beans in "very good condition" with rainfall expected in virtually all of the producing states in Brazil.

"If I was to give a grade to the soybean crop at this time, I would say it is a nine," said AgRural analyst Adriano Gomes in a statement.

The climatic conditions recorded in the first months of the 2017/18 harvest were not as good as those of last season, when Brazil achieved a record production of 114.1 million mt, the consultants said, largely due to delays in planting caused by irregular rainfall, especially in the Midwest.

With regards to summer corn, the consultants said the crop was “developing well”, but there would be lost production due to the lack of rain in September.

AgRural estimates that summer corn production would be 24.9 million mt, down from earlier estimates of 24.9 million mt.