Brazil’s soybean harvest nears finish line

Farmers in Brazil have nearly completed soybean harvest with 98% complete as of June 2, according to the National Supply Company (Conab).

A slight delay — 1% behind last year — is attributed to the recent floods in the state of Rio Grande do Sul. That state has only harvested 90% of this year’s soybean crop, which is 6% behind 2023. Even though the level of most rivers in Rio Grande do Sul have lowered significantly in recent days, local authorities are still concerned about moving the crop out of fields due to damage on roads and bridges.

“It will be a major challenge to make the crop reach the port,” says Nereo Starlick, the soybean coordinator at a local association of cooperatives.

High yields for second corn crop in Mato Grosso

In the west central region of Brazil, the second corn crop harvest has started with 2% complete as of June 2, according to AgRural. The majority of that initial harvest has been in Mato Grosso and Parana.

Yields in Paraná are estimated to be down from an average of 86 bushels per acre (bpa) to 80 bpa due to drought and heat while Mato Grosso yields are steady at 80 bpa.

AgRural’s updated estimate for Brazil’s corn crop is 118.4 million metric tons (mmt), which is nearly 3 mmt higher than the previous crop.

This week the forecast shows a significant drop in temperatures in the south with lows near 32ºF and close to 47ºF in the west central region, according to Climatempo. Rainfall is forecast in the northeast. 

Argentina’s soybean harvest leaps ahead

Farmers in Argentina pushed soybean progress ahead to 78% complete — up 14% from the week prior, according to the Buenos Aires Cereal Exchange. The majority of harvest work is happening in the provinces of Buenos Aires, La Pampa, and Entre Ríos. Total production is estimated at 50.5 mmt — unchanged compared to the previous forecast.

Soybean yield will be near the five-year average in Argentina’s northern regions and in Buenos Aires, according to the Buenos Aires Cereal Exchange. Yields are trending higher in the central province of Entre Rios, getting close to 81 bpa in both regions. 

Meanwhile, corn harvest is 28% complete with a projected output of 46.5 mmt, 9.5 mmt more than the previous crop, according to the Cereal Exchange.