Brazil’s 2023/24 soybean planting loses steam amid bad weather -AgRural

Brazil’s 2023/24 soybean planting has reached as of last Thursday 17% of the expected area, agribusiness consultancy AgRural said on Monday, losing steam as farmers struggle with adverse weather conditions.

Sowing was up 7 percentage points from the previous week, AgRural said in a statement but now lags behind the 24% seen at the same time last year, reversing a trend after it reached its quickest pace ever in the first weeks of the current cycle.

“Work in the fields throughout the week lost momentum in several states due to weather issues, especially those caused by high temperatures and irregular rainfall,” the consultancy said, adding this may lead to replanting in some areas of top grain producing state Mato Grosso.

AgRural also reported that farmers in center-south Brazil have planted 41% of the area expected for their first 2024 corn crop, up from 37% a week ago but below the 46% registered a year earlier.

Source: Nasdaq – Reuters

Sharing is caring!