Transport woes cloud rosy outlook for Brazil soy
Transport hiccups are increasingly overshadowing hopes for Brazil’s next soybean crop, curtailing sowings in the main producing state besides curtailing hopes for exports which world buyers are clamouring for.
The US Department of Agriculture’s Brasilia bureau raised its forecast for the 2012-13 Brazilian soybean crop, currently being planted, by 82.0m tonnes, 1.0m tonnes above the department’s official forecast, citing the boost to yields from extra fertilizer applications.
“Record fertilizer imports of an estimated 29m tonnes in 2012 coupled with increased use of certified seed, genetically engineered seed, and other inputs will result in close to record yields of 3 tonnes per hectare,” the bureau said in a report.
Last season, the yield was less than 2.7 tonnes per hectare.