Feb 08, 2019
Imea Lowers Mato Grosso Soy Estimate, Increases Corn Estimate
Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.
In their third assessment of the 2018/19 soybean crop in Mato Grosso released last week, the Mato Grosso Institute of Agricultural Economics (Imea) lowered their estimate for the state's soybean crop. They lowered their estimate by 0.55 million tons to 31.9 million on a planted acreage of 9.62 million hectares (23.7 million acres). They cited high temperatures and below normal rainfall during the month of December as the reason for the lower estimate.
Imea is now estimating the statewide soybean yield at 55.7 sacks per hectare (49.4 bu/ac), which is 2.7% below last year's record yield. The soybean acreage increased 1.6% compared to last year, but the production is now down 1.8%.
The soybeans in the state were planted at a record pace in September and October and the soybeans are being harvested at a record pace as well. A week ago, the soybeans in the state were approximately 40% harvested compared to the 5-year average of 20%. Currently, the soybeans in Mato Grosso are probably 50% harvested or more.
In their second assessment of the corn crop in Mato Grosso, Imea estimated that the safrinha corn acreage in the state will increase 1.6% compared to last year to 4.69 million hectares (11.5 million acres). They feel the acreage will increase due to the record fast soybean harvest which should allow for all the safrinha corn to be planted within the ideal planting window which closes about the third week of February.
They feel the statewide yield will be 102.2 kg/ha (94.4 bu/ac), which would be up 2.6% compared to last year. The total corn production in the state is estimated at 28.7 million tons, which would be an increase of 4.3% compared to last year.
Cotton farmers in the state are expected to increase their cotton acreage 32% to approximately one million hectares. Cotton production is also expected to increase to approximately 1.79 million tons of fiber compared to the 1.59 million tons produced last year. Cotton planting was over 90% complete as of late last week. Over 90% of the cotton in Mato Grosso is planted as a second crop after the soybeans are harvested. The state of Mato Grosso is Brazil's largest producer of soybeans, corn, cotton, and cattle.