The world's No. 2 soy producer is now well into the wet summer season. But the La Nina weather anomaly has disrupted rainfall patterns in the south, keeping that region and neighboring Argentina's soy areas mostly dry in recent weeks.
The drought has already destroyed some of the corn planted in Parana state, the country's biggest corn state, and relief from dryness will be critical in the next week or two in No. 3 soy grower Rio Grande do Sul in the far south to prevent seed germination failing.
Dryness there and in world No. 3 producer Argentina, has given support to soybean futures in recent days, with no sign of imminent relief.
In its extended forecast, Somar said rains would move a little to the south between January 7-11, bringing a total of 15-30 millimeters (0.6-1.2 inches) to the very dry states of Parana, Mato Grosso do Sul and Rio Grande do Sul. The heavy rain bound this week for states in the east of the country would also ease after a day or two.
Sources:
Reuters
The drought has already destroyed some of the corn planted in Parana state, the country's biggest corn state, and relief from dryness will be critical in the next week or two in No. 3 soy grower Rio Grande do Sul in the far south to prevent seed germination failing.
Dryness there and in world No. 3 producer Argentina, has given support to soybean futures in recent days, with no sign of imminent relief.
In its extended forecast, Somar said rains would move a little to the south between January 7-11, bringing a total of 15-30 millimeters (0.6-1.2 inches) to the very dry states of Parana, Mato Grosso do Sul and Rio Grande do Sul. The heavy rain bound this week for states in the east of the country would also ease after a day or two.
Sources:
Reuters
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