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Friday, March 1, 2024

In Brazil, showers were widely scattered the last 24 hours and favoring the south portion. Many areas further north in the Brazil soybean region have been left out of good rainfall this week causing more dryness concerns. While there were stretches of good rainfall over the past month, some locations were left out of adequate rainfall and are still too dry as a result. This has led to lower crop production and yields. Soybean yields so far are below the average of 56 bushels per acre and are in the range of 36 to 46 bushels/acre this season due to a dry start of the growing season and periods of dryness since. Most of the soybeans in key states of Mato Grosso and Parana have been harvested with 40% overall harvested across Brazil through late last week. It still looks wetter than normal in southern Brazil the next couple weeks which will benefitthe crops in this area, including Rio Grande do Sul. However, the north half looks drier than normal the next two weeks which will leave some locations short on soil moisture for the remaining soybean crop and the second crop safrinha corn.