Brazil’s soybean Production is at its slowest rate since 2020

In the 2023-24 agricultural season, Brazil’s soybean planting has seen an 11% increase compared to the previous year, although it still lags behind the levels achieved during the previous season. Notably, 57% of the land was planted simultaneously, but the overall pace of planting has been slower than what was observed in the 2020-2021 season.

As of last Thursday, only 51% of the total projected area designated for Brazil’s soybean planting had been successfully planted. This slower progress can be attributed to predominantly dry weather conditions in key grain-producing regions, including Mato Grosso and Parana, which caused significant delays in planting activities.

Interestingly, there was a temporary respite from the dry spell due to erratic rainfall experienced in the previous week. This allowed farmers to make progress by planting more crops. However, challenges emerged in some areas due to low humidity, which necessitated replanting efforts. In contrast, Parana faced a different weather extreme, experiencing heavy rainfall and flooding, which not only caused significant damage but also required replanting in affected areas.

Source: Reuters (Reporting by Gabriel Araujo; Editing by Steven Grattan)