March 13, 2024

Brazil's soybean harvest reaches 55%, second corn crop planting nears completion

Brazil's soybean harvest for the 2023/24 cycle has surged to 55% of the planted area, marking a significant milestone in the agricultural calendar, according to agribusiness consultancy AgRural, Reuters reported.

According to AgRural, the pace of harvesting has slightly slowed, with a 7-percentage-point increase from the previous week, as the focus shifts to areas with late planting, where the bulk of the harvest is now concentrated.

Despite the slowdown, the current progress surpasses the 53% mark recorded at the same period last year, indicating a favourable trajectory for this year's harvest.

Persistent rainfall has contributed to delays, particularly impacting the Matopiba region, where harvesting operations have been hindered, as noted by AgRural.

In Rio Grande do Sul state, characterised by a later planting calendar, the harvest is still in its early stages. Nonetheless, crops are showing promising signs, and favourable yields are anticipated, reflecting the overall optimism in the agricultural sector.

Meanwhile, the planting of Brazil's second corn crop has made significant strides, reaching 93% completion as of last Thursday. This progress marks a notable improvement from the previous week's 86% and outperforms the 82% recorded during the same period last year.

-      Reuters