Brazilian soy set for record crop and weaker prices
The Public Ledger Thursday January 09 2014
Extremely high temperatures, coupled with a lack of rain in several soy growing regions in west and south Brazil in the past few weeks, may frustrate hopes of a record 90 million tonne plus soy crop for 2013/14.
Should the adverse conditions persist, the price of soy beans, until recently 11% less than a year ago, should firm up, so farmers should be little affected by any losses in output. Should rains resume soon though, the hot, dry conditions may cause little damage.
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