Brazil, Australia Grain Yields Predicted
Looks like a new record in South America and Oz is on track for level production in wheat.
Compiled by staff
Published: May 7, 2010
Two different crop estimates have come in for soybean production in Brazil - one from the National Commodities Supply Corp. and the other from the country's ag survey group - and both peg this year's soy crop at 67.9 million metric tons. That would be an increase of about 12.8 MMT over the 2008-2009 production year.
Favorable weather for soy producing areas hasn't hurt yields, and the country planted more than 51 million acres of soybeans this year compared to 48 million acres in the 2008-2009 crop year, according to wire reports.
In the Brazilian state of Parana alone, farmers could top 14 million tons of soy versus just 9.5 million tons last year.
Aussie wheat, canola
Rabobank Australia issued kept its estimate of Australian wheat production at the forecast 21.8 million metric tons - which is about the same as the previous crop year. Despite some dry weather, planting conditions remained favorable. While Western Australia is looking for rain before it can plant winter wheat. Dry planting has started in some areas.
Canola production is pegged at 2 million metric tons, and a rising portion of that production is biotech canola. Rabobank predicts as much as 15% of next year's crop could be genetically modified canola.
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Tagged: wheat, soybeans, soybean, winter wheat
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