Brazil’s Soy and Corn Harvest Threatened by Heatwave
Brazil’s heatwave is delaying soy planting, adversely affecting the subsequent corn cycle typically planted after soy.
In Mato Grosso, farmer Endrigo Dalcin illustrates the crisis. He planned to sow 4,900 hectares of soy, followed by corn but managed only 3,000 hectares.
About a quarter of these crops died due to drought, forcing replanting and delaying the entire process.
The U.S. Department of Agriculture (USDA) has already lowered its forecast for Brazil’s corn production to 129 million tons from 137 million last year.
Agrinvest Commodities predicts a further decline in corn planting and production.
Similarly, soybean harvest forecasts are dropping, with Agrinvest now estimating the 2023-2024 yield at 155.4 million tons, down from 163 million.
Marcos Araujo from Agrinvest warns of further reductions in crop estimates if the dry spell continues.
Soy planting in Mato Grosso is at its slowest pace since 2017, and nationally, it’s the slowest since at least 2019.
Coacen, a large cooperative in Mato Grosso, anticipates a 10-15% decrease in corn planting, potentially more, depending on weather conditions.
Brazil’s current heatwave is unusual, even considering the expected drought from El Niño. Temperatures in key farming regions have neared 40°C.
Hope For Rain by November
According to meteorologist Marco Antonio dos Santos, there is hope for rain by November 20.
These climatic conditions also affect crop quality. Michael Cordonnier from Soybean and Corn Advisor notes the risk of lower productivity for surviving soy crops.
Moreover, logistical issues, like drought-impaired river transport, complicate grain exports.
Farmers like Paolo Vivenza from Minas Gerais, who diversified from coffee to soy and corn, are reeling from the impact.
After a successful year in 2023, the delayed soy planting forced him to cancel corn harvesting.
Some farmers are switching to cotton, a challenging but potentially more rewarding alternative.
This crisis in Brazil’s major crops underscores the significant impact of climatic conditions on agriculture, highlighting the challenges and adaptability of Brazilian farmers.
More: Brazil news in English, every day from The Rio Times.
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+0.46%
183,827.59
+0.46%
65,071.30
+0.20%
11,055.91
-0.73%
2,782,561
-0.59%
2,558.92
-0.79%
60,220.45
+0.32%
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IBOV | 183,827.59 | +0.46% | +21.85% | 182,991.13 | 168,310 | 167,142 | — |
| USD/BRL | 5.16 | +0.01% | -5.13% | 5.16 | 5.18 | 5.14 | — |
| 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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