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Ideal weather conditions for Brazil soybeans -USDA
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WASHINGTON, Jan 14 (Reuters) - U.S. Agriculture Department said on Mondayfavorable weather in key crop-growing regions has positioned Argentina toproduce a huge soybean harvest."(Argentina's) weather pattern to date has been nearly ideal, supportingrapid growth and development of the crop," USDA's Foreign AgriculturalService said.Last week, USDA projected 2001/02 soybean crop at a record 42.5 milliontonnes, up 1 million tonnes from December's estimate. USDA said somesoybean-growing regions received below average rainfall from Octoberthrough December, "but moisture accumulations have kept pace with orexceeded crop requirements to date."Areas of concerns are limited to western Santa Catarina and Rio Grande doSul. USDA said rainfall was needed in these areas to prevent crop stress.On Monday, worries about dry Brazilian soy crop weather boosted soybeanfutures at the Chicago Board of Trade. Soybean futures for March deliveryclosed up 3-3/4 cents at $4.46-3/4 per bushel.Independent Brazilian forecaster Somar forecast lingering dry weatheracross Brazil's southern soybean growing region. However, rain could reachRio Grande after Jan. 22, Somar said. In Parana, another southern state,rain was expected at the end of the week, while rains were seen falling inthe center-west, Somar said.

((Randy Fabi, Washington Commodities, 202-898-8394,fax 202-863-1049, randolph.fabi@reuters.com))