干燥的天气预报支持董事会价格

Brazil Crop Update

• 巴西大豆收获是83％的完成，略高于平均水平81％，但仍落后于去年。

• In Mato Grosso, Parana, MGDS, and Goias bean harvesting is done at 98%-99% complete.

• 在里奥格兰德（Rio Grande Do）的南部，收获仍然落后40％，平均水平为55％。

• Mato Grosso farmer selling of the current bean harvest increased to 79% compared to 82% last year, and new crop is 25% sold versus 30% last year.

• 巴西的第一批农作物收获已完成72％，与去年平均71％保持一致。

• Producers in Mato Grosso have sold 72% of the safrinha crop compared to 77% last year.

• Although selling is ahead of 61% average, marketing has slowed over the last month as producers wait to confirm final production.

• IMEA将其对Mato Grosso的玉米生产的估计减少了3.6％，从3630万吨增加到3500万吨，因为在窗外种植的40％的农作物被认为是该州理想的。

fbn的Take OnWhat It Means:Soybean harvest has mostly caught up and is supplying record shipments to China. There continues to be concern about second crop corn production, which is increasing due to the drier weather forecast. Though USDA left its last forecast unchanged, others are beginning to lower projected supplies. If production in Brazil is reduced, it would further tighten world stocks and support prices.

Increased Soy Crush Expected

• The monthly National Oilseed Processors Association (NOPA) report is scheduled for release at 11 a.m. CDT on Thursday.

• NOPA members are forecast to have crushed 179.2 million bushels of soybeans in March.

• Volume would be up significantly from a 17-month low in February of just 155.2 million bushels.

• Soy crush is expected to rebound from shutdowns caused by freezing weather in February.

• High bean oil prices supported profitable processing margins, and encouraged crushers to accelerate operations.

• The average forecast for end of March bean oil stocks is 1.822 billion pounds versus 1.757 billion pounds the prior month and 1.899 billion last year.

fbn的Take OnWhat It Means:尽管大豆供应受到限制，但三月份的压碎率很可能会在3月上升，并且一些处理器可能从2月的放缓中努力反弹。预计生物燃料对植物油的强烈需求将继续与食品使用竞争并帮助支持大豆价值。

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