Farm Progress America, May 6, 2024

Mike Pearson tells listeners how devastating floods in Brazil was good for soybean prices in the USA last week.

May 6, 2024

Mike Pearson tells listeners about severe flooding in Brazil and it's impact on soybeans and corn.

Rio Grande de Sol, Brazil has recently received 19 inches of rain. The area has been hit hard by wild weather since April.

There are 21 people missing and 10 people have been killed in the floods.

Rio Grande de Sol is the second largest soybean producing state in Brazil. The state produces about the same amount of soybeans as the state of Iowa and Nebraska last fall.

Approximately 76 percent of the soybean harvest is complete in Rio Grande de Sol as of May 2. The harvest there is shrinking as the weather continues to be wet.

The progress is slower in the south where Rio Grande De Sol is and 40 percent of the crop is still in the fields.

The good news is that the corn harvest is doing better. Approximately 83 percent of the crop is harvested in Rio Grande de Sol, but there are big concerns about getting the crop exported.

Farm Progress America is a daily look at key issues in agriculture. It is produced and presented by Mike Pearson, farm broadcaster and host of This Week in Agribusiness.

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