TMG 4182 variety (conventional, resistant to multiple breeds of cyst nematodes) -> 2.517 acres harvested, 61,64 bu/ac. Some fields as high as 66 bu/ac where the record in recent years had been 51 bu/ac.
An agronomist that works nearby just spotted this wonder yesterday: a FIVE grains pod!
It’s something I had never seen and I am now completely envy of her. It’s also an expression of how weather conditions have been perfect along this season as soybean plants “decide” which pods to retain and seeds to fill. Yields have been record and this will be by far the best soybeans season ever in the west of Mato Grosso. Actually, reports are that this is alto true for the rest of Mato Grosso.
- Three months ago, just before planting, we were scared on how the now famous Helicoverpa caterpillar would behave in our crops…
…scared because we knew that the pesticides currently allowed in Brazil do not control helicoverpa effectively. According to research and previous farm experiences in Bahia, they are only efficient until helicoverpa reaches about 0,5 inch. After that, they look more like vitamins to the caterpillars. Half an inch is a risky threshold and there wasn’t a safeguard, a last minute weapon, so we urged to the approval of emamectin benzoate, an effective inseticide available in more than 77 countries, including Australia, Argentina, USA, and Europe, but still under the stuck-in-the-mud brazilian government studies, who apparently judges itself much better than its international counterparts.
Meanwhile, and knowing that this approval could take months to come(or never come), Mato Grosso’s institutions and companies acted quickly to intruct farmers on how to monitore, recognize, and control this plague. Constant monitoring has been the order since then and fortunately it has worked. We are now in the middle of 2013/14 soybeans season in Brazil. Early fields will start to be harvested next week and by now everything is under control in most places. Costs are higher but yields are not being affected.
Today USDA report is expected to decrease US ending stocks to a even more critical level. Part of it is already on the price, part is not, and recent price action, especially yesterday’s, seems to reinforce that there is still some upside ahead. If this prospect if confirmed, a good entry point may become apparent so it is worth watching today market reaction to the report.
…this adds to technicals, seasonals and fundamental drivers displayed on the chart below (click on it for further info) and commented here almost a month ago.
Another pro aspect are seasonal averages that show us a traditional rally on Decembers. Take a look.
Important also to note that a rally now has a good chance to be a last and quick breath unless something bad happens to South America 13/14 beans crop.
After almost three months of dryness, Argentina finally got the rains it needed.
And just on time for soybeans planting.
If that was an issue for the markets, it´s gone.