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Tuesday, March 12, 2013

Soybean Harvest wrapped up in Mato Grosso

 By Eduardo Paim.

Here in Brazil things are not changing much, with continued good rains that are helping the corn and soybean harvest in 2013 is at the end in my state (Mato Grosso).
I believe that if the rains do not change we are going to have a lot of corn!
The problem now is that Brazil's ports are full queues of trucks, the railways are paralyzed by lack of space at the ports to dump soybeans.
The trucks that go to ports and queues are taking back the railways, it is causing a lack of trucks and freight in the country is getting too expensive; it has risen about 100%.
We're not seeing the producers selling soybeans. They are waiting to end the month of March to see if it normalizes prices and freight prices start getting good!
Due to the expensive freight and lack of space in ports to store soybeans, we are seeing China buy too much soy in the U.S. We only have 30% of our soybeans ready to sell in Brazil, producers believe that the price will greatly improve!

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