2024/25 Brazil Soybeans 36% Planted vs. 39% Last Year

Soybeans in Brazil were 36% planted as of late last week compared to 39.1% last year and 44.4% average according to Patria AgroNegocios. This represents an advance of 18% for the week. The state of Mato Grosso accounted for half of the soybeans planted last week in Brazil. Soybean planting continues to be most advanced in southern areas and most lagging in the central and northern areas.

Rainfall last week and over the weekend was focused on an east-to-west band across central Brazil with dryer conditions north and south of the band. The forecast for this week is calling for more rainfall in the band with more widespread rainfall across much of Brazil in the 6-10 day period.

Farmers in Mato Grosso made considerable progress in planting their soybeans last week. Soybeans in Mato Grosso were 55.7% planted as of late last week compared to 70.0% last year and 62.3% average according to the Mato grosso Institute of Agricultural Economics (Imea). This represents an advance of 30.6% for the week, which is probably a record for one week. The most advanced is the mid-north region where the soybeans are 74% planted. The slowest progress is in the southeast region with 41% planted.

This rapid weekly progress could change the calculus concerning potential delays for planting safrinha corn. In areas with good rainfall and rapid soybean planting, there should be enough time to plant safrinha corn within the ideal planting window. In areas still waiting for enough rain to start planting, farmers may switch their intended safrinha corn to other crops such as grain sorghum, sesame, or dry beans.

Below is the soybean planting progress in Mato Grosso for October 25, 2024 from the Mato Grosso Institute of Agricultural Economics (Imea).

Soybeans in Parana were 62% planted as of earlier last week according to the Department of Rural Economics (Deral). Soybeans are 33% germinating, 67% in vegetative development and rated 100% good. Deral is estimating the soybean production in the state at 22.4 million tons, which is up 21% from last year.

After three disappointing years in a row, two due to drought and one due to flooding, farmers in Rio Grande do Sul are hoping for a better year, but they are now confronting different problems this growing season. Farmers are having problems renegotiating their old debts and obtaining new credit. Additionally, in areas that experienced severe flooding, much of the topsoil and its nutrients were washed away, which could result in reduced yields.

Farmers are also not happy about the low soybean prices. Soybean prices in the state are in the range of R$ 118 to R$125 per sack (approximately $9.55 to $10.15 per bushel) which is well below the R$ 150 to R$ 160 per sack needed to generate a profit (approximately $12.15 to $13.00 per bushel).

Soybeans in Mato Grosso do Sul were 32% planted last week compared to 10% last year. Approximately 40% of the soybeans are planted in the southern region of the state, 21% in the central region, and 17% in the northern region of the state. In most of the states, the soybeans are rated 4% average and 96% good with somewhat lower ratings in the far southern part of the state.

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Tags: Brazil, soybeans, safrinha corn, planted