South America Calling

Brazil's soybean harvest continues to lag at 29% complete as of Friday, said AgRural, a local consultancy.

The diesel shortages due to the trucker roadblocks may have grabbed the headlines last week, but fieldwork delays have much more to do with late planting.

Harvest efforts moved forward nine percentage points last week but are 10 points back on last year, although just four points back on the five-year average.

According to AgRural, the harvest picked up pace in the Center-West last week.

In Mato Grosso, the No. 1 soy state, exactly 50% of the crop had been collected, up 16 points on the week. At some points along the BR-163 highway, farmers had to stop fieldwork due to a lack of diesel, but the truckers' protest has yet to have a massive effect in harvesting.

Yields are varying massively in the state, In northern Mato Grosso, yields of between 43 and 54 bushels per acre are being recorded. In the south, in Campo Verde, yields of 49 bpa are the norm and, in the east, area that were hit hard by drought, around Querencia, are registering 36 bpa, said AgRural.

In the south of Brazil, the harvest is slipping further behind the regular schedule.

Parana, the No. 2 state, has harvested 33% of the crop, back from 42% at the same point last year. Delays are most pronounced in the north of the state, which was affected by dry weather.

SOY SALES PICK UP

After a slow January, Brazil's soybean market became more active in February. As a result, sales of the 2014-15 crop progressed seven points in the month to 40%, said AgRural.

That is still well back on the 57% sold at the same point last year, but growers at least started coming back to market, taking advantage of a rally in futures prices and the devaluation of the real to sell more of their crop, whose size they now have a clearer idea of.

(AG)

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