Prices up, but weather threats production

In the first fortnight of January, Brazilian soybean prices kept supported by adverse weather in the South America and by dollar valuation against the Real. The CEPEA/ESALQ Index (Paraná state) upped 6.12 percent in Real between December 30th 2008 and January 15th 2009, closing at 49.59 reals or 20.82 dollars per bag of 60 kilos on Jan 15th. For the product delivered at Paranaguá port (ESALQ/BM&F Index), the increase was of 4.1 percent in Real, to 51.32 reals or 21.55 dollars per bag.

Because of the drought, in Paraná state, Seab (Paraná Agriculture Secretariat) data shows decrease of 17 percent in soybean production, to 10.2 million tons.

Only 156 soybean rust focuses were detected in Brazil (until this year beginning), which is much less than the number identified in the previous crop (total), when about 2,106 focus were detected.

According to Conab (Brazilian government), 2008/09 soybean crop should reach 57.76 million tons, 3.8 percent lower than the volume produced in the previous crop; the yield is forecasted in 2.72 tons per hectare (-3.5 percent). (Cepea - Brazil)

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