Brazil’s 2024 Farming Shift: From Corn to Diverse Crops
In 2024, Brazil’s farmers are pivoting from corn to a variety of crops for the second planting season.
The National Supply Company (Conab) forecasts a 7.5% reduction in corn cultivation area, dropping to 15.879 million hectares from 17.179 million hectares in 2023.
This shift responds to low corn prices, delayed soybean planting, and expected April rainfall decreases.
Farmers are now eyeing alternatives like sorghum, sesame, cotton, wheat, sunflower, and rice.
Sorghum, in particular, is gaining favor for its climatic resilience and wider planting window, according to Stefan Podsclan from Agrifatto.
Vlamir Brandalizze, a market analyst, points out cotton and other crops as profitable options that fit better into the current planting schedule.
Sorghum stands out in central Brazil for its drought tolerance and role in animal feed, mirroring corn’s utility.
Conab observes sorghum growth in Mato Grosso, and expects Bahia and Piauí growth due to diversification and corn decline.
Sesame cultivation is rising, especially in Canarana, Mato Grosso, driven by market demand and the crop’s strong root system.
Meanwhile, cotton‘s planting area is to grow by 12.8% to 1.877 million hectares, driven by shifts from soy for stable prices and profitability.
Wheat, mainly grown in the South, is less favored this season due to its profitability and planting window challenges compared to corn.
However, optimism for wheat remains in Goiás and São Paulo, thanks to successful harvests and strong domestic demand.
Sunflower and rice rise as potential corn alternatives, with sunflower, noted for pricing and rice for increased cultivation area.
Brazilian farmers diversify crops strategically, adapting to weather and economic uncertainties for sustainable agricultural growth and risk mitigation.
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| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IBOV | 209,066.90 | +1.38% | +21.85% | 206,220.24 | 168,310 | 167,142 | — |
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| SELIC | 14.00% | — | — | — | — | — | |
| PETR4 | 41.64 | -0.05% | +35.19% | 41.66 | 41.97 | 41.15 | 41,499,400 |
| VALE3 | 72.97 | +0.83% | +30.75% | 72.37 | 73.54 | 72.66 | 17,658,000 |
| ITUB4 | 38.60 | -1.03% | +4.57% | 39.00 | 39.34 | 38.39 | 29,487,800 |
| BBDC4 | 16.85 | +0.36% | +3.50% | 16.79 | 16.90 | 16.67 | 19,416,900 |
| BBAS3 | 19.37 | +0.47% | +0.73% | 19.28 | 19.44 | 19.16 | 11,069,200 |
| B3SA3 | 14.26 | -0.21% | +12.73% | 14.29 | 14.47 | 14.11 | 33,037,800 |
| ABEV3 | 14.89 | -0.80% | +21.91% | 15.01 | 15.07 | 14.81 | 16,453,100 |
| WEGE3 | 47.59 | +0.49% | +29.99% | 47.36 | 48.08 | 47.36 | 3,364,600 |
| PRIO3 | 59.14 | -0.19% | +50.67% | 59.25 | 59.81 | 58.74 | 3,325,600 |
| SUZB3 | 41.33 | +2.35% | -23.55% | 40.38 | 41.48 | 40.35 | 3,914,900 |
| RENT3 | 34.68 | -0.09% | +0.84% | 34.71 | 34.96 | 34.35 | 7,979,100 |
| AZZA3 | 15.89 | -2.63% | -53.76% | 16.32 | 16.42 | 15.82 | 1,330,300 |
| CSNA3 | 4.30 | +0.47% | -42.65% | 4.28 | 4.41 | 4.26 | 10,076,100 |
| GGBR4 | 24.69 | +2.19% | +51.38% | 24.16 | 24.85 | 24.18 | 7,047,600 |
| ENEV3 | 24.21 | -1.38% | +70.49% | 24.55 | 24.64 | 23.99 | 9,297,000 |
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