Brazil’s Soybean Harvest for 2023–2024 Is 11%, Up from 5% Last Year

Recent rainfall in northeastern and northern Brazil has increased soil moisture but also hindered the drying out and harvesting of soybeans. As of late last week, 11% of Brazil soybeans had been harvested, up from 5% the previous year and an average of 7.6%. However, the damp weather in central and northern Mato Grosso caused the harvest to lose some of its pace.

Brazil’s soybean yields are still disappointing everywhere the harvest has begun, with Mato Grosso reporting reduced yields. Parana, for example, has reported lower yields due to dry weather in December and early January. The yields of the soybeans that mature later will determine whether or not the estimate for Brazilian soybeans eventually declines.

Mato Grosso has seen an 8.6% weekly advancement in soybean harvest, with 34% of soybeans in western Mato Grosso being the most advanced harvest. However, poor seed quality is a common issue in some areas of Mato Grosso due to the rainy weather during harvest.

Parana is on the verge of becoming the biggest surprise in Brazil, but its once-promising soybean harvest has somewhat lost its shine. The Department of Rural Economics (Deral) reduced its projection for Parana’s soybean production in 2023-2024 by 2.4 million tonnes, to 19.2 million.

Rio Grande do Sul has seen a 15% decrease in soybean production due to the recent good weather, with 62% of soybeans in the vegetative stage, 30% in bloom, 8% filling pods, and the majority closing rows.

Goias has seen less than 30 sacks per hectare of soybeans harvested, with 15% to 20% of the whole crop being harvested. Safrinha maize planting will be postponed past the optimal planting window due to delayed soy planting.

São Paulo is suffering losses due to the previous hot and dry weather.

Source: Soybean and Corn Advisor, Inc.