According to agribusiness consultancy AgRural, Brazil's soybean harvest for the 2023/24 season reached 16% completion as of last Thursday, marking a 5 percentage point increase from the previous week.
The recent weather conditions, characterized by hot temperatures and limited rainfall, particularly in the southern regions of Rio Grande do Sul, Santa Catarina, Parana, and Mato Grosso do Sul, have raised concerns among producers. AgRural cautioned that if these conditions persist into February, there could be significant losses in productivity.
In tandem with the soybean harvest, Brazilian farmers have begun planting their second corn crop for the 2023/24 season. This second corn crop typically represents approximately 75% of the country's total annual production and is grown in the same fields as soybeans.
As of last Thursday, approximately 27% of the anticipated second corn crop area in Brazil's center-south had been planted, showing a notable increase from the 11% reported the previous week. AgRural noted that this pace of planting is the fastest recorded since data collection began in 2013.
Given the delayed soybean harvest in certain regions, expeditious planting of the second corn crop is vital for farmers to avoid missing the optimal climate window, which typically closes by late February.
It's worth noting that Brazil holds a prominent position as the world's largest producer and exporter of soybeans, in addition to being a significant exporter of corn.
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