Mar 13, 2019

Brazilian Farmers Optimistic about their 2018/19 Safrinha Corn

Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.

The full-season corn in Brazil is approximately 60% harvested and the safrinha corn planting is nearly complete. The safrinha corn acreage is estimated at 12.5 million hectares which is up 4% compared to last year.

Safrinha corn production is always a risky proposition, so I am hesitant to get too far ahead of myself, but we have to recognize the fact that the crop is off to a good start. Any potential downside to the crop will be determined when the summer rains come to an end.

Full-season corn in Rio Grande do Sul - According to Emater, the farmers in Rio Grande do Sul have harvested 51% of the full-season corn crop. Of the remaining corn left in the field, 3% is in vegetative development, 5% is flowering, 24% is filling grain, and 17% is mature. Corn yields in the state are reported to be good.

Full-season corn in Parana - According to the Department of Rural Economics (Deral), the full-season corn in Parana is 32% harvested with the remaining corn rated 16% average and 84% good.

Safrinha corn in Parana - Deral reported that 73% of the safrinha corn in Parana had been planted and the crop was rated 7% average and 93% good.

Safrinha corn in Mato Grosso - Imea reported that 98.8% of the safrinha corn had been planted compared to 95% for last year and for the 5-year average. Imea also reported that 95% of the safrinha corn in the state was planted within the ideal planting window, which ended at the end of February.

As a result of the early planting and favorable weather, farmers in Mato Grosso are optimistic about their safrinha corn production, but they would like to see higher corn prices. The price of corn in Mato Grosso for July delivery ended the month of February at R$ 19.33 per sack (approximately $2.35 per bushel), which was down 9.8% compared to the end of January.