Brazil’s corn harvest lags behind last year’s pace

Brazil’s second-crop corn harvest continues to lag behind last year’s pace. As of August 21, farmers had harvested 90.4% of the area, according to Brazil’s National Supply Company (CONAB).

Harvesting advanced significantly over the week, from 84.7% to 90.4%. However, 94.8% of the area had already been harvested at the same point last year, putting the current pace 4.4 percentage points behind.

The gap compared with the five-year average is much smaller. On average, 91.1% of Brazil’s second corn crop had been harvested by this date, just 0.7 percentage points above the current level.

The slower harvest compared with last year could slightly delay the seasonal increase in Brazilian corn supplies and their arrival on the export market. Brazil is one of the world’s largest corn exporters, making the pace of the safrinha harvest important for international trade.

However, the lag behind the five-year average remains minor and does not yet indicate significant harvesting problems. The impact on exports and prices will depend on how quickly harvesting is completed and the new crop reaches the market.

Tags: corn, Brazil, harvesting