Rain concerns in Brazil

By Eduardo Paim:

Here in Mato Grosso We have not had rain for the corn planted that still needs water; we will not have rain in the forecast until 20/05/13. Another big producer of corn in Brazil's state of Rio Grande do Sul, there has previções good rainfall, the risk is if frosts occur (there is one state too cold), but temperatures are good for the moment!

Even without the rain because we will reap a lot of corn, because acreage was higher this year. The price is low (U $ 7.00 in Rondonópolis in Mato Grosso, producers hoped for a MINIMUM U $ U $ 10.00). Maize production was only sold to  20% of production.

Overall, Brazil has averaged 18% to 20% soybeans produceed in the warehouse, the price is improving because companies are starting to dispose of soybeans.

At this time (Mato Grosso) is having enough problems of quality in soybean quality in the warehouse; too much soy was harvested with a lot of rain and it spoiled. Some farms have soy up to 60% damaged (including insect stings / bug and rotten rains). We were not expectingthe spoilage.

Last week the price has improved by $ 1.00 per bag, we have information that shows that companies do not have too much soy in stock and this will make them start paying more for the grain.