AgRural reduces soybean forecast for 19/20 crop due to drought in Rio Grande do Sul

AgRural revised its estimate for Brazil’s 2019/20 soybean crop downwards to 124.3 million tons, compared to 125.6 million tons seen in the previous projection. This is due to losses caused by the drought in Rio Grande do Sul. According to AgRural, the hot and dry weather down south is expected to cause the country to register ist lowest productivity since 2011/12, although the losses in Rio Grande do Sul will be “partially offset by high productivity in other States”.

According to AgRural, by March 12 around 59% of the Brazilian crop had been harvested.  This was a 9% increase in relation to the previous week and exceeds the five-year average for the period (57%), but not the pace of work at the same time last year (63%), said the consultancy.

Source: Reuters

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