Brazil’s soybean crop continues to vary widely. “Northern Brazil is probably getting too much rain for ideal conditions, but it’s a beautiful crop,” says Kory Melby, a Brazilian Ag Consultant. “From Parana south, the crop can’t catch a rain and conditions are deteriorating quickly. The farmers in that area have a lot of decisions to make this week, because December 31 is their last planting date to re-plant soybeans, if they wish.” Melby says Brazil’s driest areas are not major soybean producing areas, but the entire region will have an impact on total South American production. “For Brazil alone, it’s not a major factor, but if you add up the significance for South America as a whole, it’s becoming a story and is enough to move the markets.”
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