By Jamie Martin
As the U.S. harvest season progresses, farmers in Brazil and Argentina are starting their spring planting amid dry weather concerns. Dr. Michael Cordonnier from Soybean and Corn Advisor highlights that soybean planting in Brazil is just beginning, with only 2% of soybeans in the ground nationwide.
In the southern state of Paraná, 13% has been planted, while in the key state of Mato Grosso, planting is at a mere half of 1%. Central Brazil is particularly affected, experiencing high temperatures and dryness, with the last rainfall occurring in late April.
While the planting window for soybeans in central Brazil remains forgiving until mid to late November, the real concern lies with Brazil's second corn crop.
A delay in soybean planting could push back the planting schedule for this crucial corn crop, which is essential for the country’s agriculture.
In Argentina, the situation is more troubling, as only 10% of corn has been planted, and soybean planting has yet to begin. The widespread dryness and elevated temperatures pose significant risks. If rain arrives as forecasted, it may still be too late for farmers to plant their corn during the first phase of planting, which runs from September to October.
Concerns are compounded by the presence of leaf hopper insects, which thrive in dry conditions and could further reduce planting numbers.
Dr. Cordonnier predicts that grain markets will remain stable until a significant weather event occurs in South America. He notes that global weather issues, including drought in Russia and Ukraine, may also impact market dynamics in the coming months. Until the weather situation clarifies, markets are likely to move sideways.
Photo Credit: gettyimages-eugenesergeev
Categories: National