SAO PAULO (Reuters) – Wet weather continues to favour Brazil’s bumper soybean crop, the bulk of which is still a couple months away from being ready for harvest, weather forecaster Somar said Jan. 11.
A bumper Brazilian soybean harvest would put downward pressure on all oilseed prices, including canola.
Mato Grosso and the rest of the centre-west got healthy rainfall over the weekend and should continue to see ample rains through the week.
In a few parts of the state, harvest began in late 2009, but much of the crop is still maturing.
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Harvest in Mato Grosso will begin to pick up speed in February and March.
The southern soybean states of No. 2 producer Parana and No. 3 producer Rio Grande do Sul have been getting lots of rain this season.
The two states plant and harvest later than the centre-west. The rain at this stage of the crop is favourable.
Rio Grande do Sul has already received 25 percent more rainfall than it normally gets over the entire month of January.
Rainfall has been average to above average in all of Brazil’s main soybean growing states this planting season, which started in mid-September.
Brazil is expected to produce a record soybean crop of roughly 63 million to 65 million tonnes this year.
The ample moisture over the grainbelt has increased outbreaks of diseases such as Asian soy rust.
