Brazil soybean planting is advancing well – Parana the second largest producer reported at 9% planted – ahead of last years pace (!% at the same point) Positive market outlook for Brazil beans is encouraging farmers to potentially increase Soybean acreages. Total planting estimated by one agency at 37% complete. For Mato Grosso the largest producer – rains are forecast which will improve soil conditions prior to further planting.
Informa Economics projected that U.S. corn plantings would rise 4.4 percent in 2019 to 93.044 million acres, while soybean acres would decline 7.5 percent. The forecast puts U.S. 2019 corn crop at 15.256 billion bushels based on a yield of 178.0 bushels per acre (bpa). For US soybean plantings are seen falling to 82.270 million acres in 2019, from 88.966 million in 2018. Total US 2019 soybean crop estimate at 4.161 billion bushels, based on yield of 51.0 bpa.