Nov 18, 2021

Soybean Planting in Goias, Brazil Nearing Completion

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

Farmers in the state of Goias in central Brazil are wrapping up the second fastest soybean planting in the state's history. According to the coordinator of Ifag (Institute for Strengthening Agriculture and Livestock of Goias), the 2021/22 soybean planting in the state is more than 90% complete with only areas around Brasilia and northern Goias remaining to be planted.

The summer rains started in early October and planting conditions have remained good since then resulting in good growth and development of the soybean crop. Ifag is expecting the state to produce at least 14 million tons of soybeans, which would set a record for the state. The long-range forecast is calling for potential periods of dry weather in January, but farmers are not concerned because the soybeans will be nearing maturity at that time. The soybean harvest is expected to start by the end of January, which should allow the safrinha corn to be planted within the ideal planting window.

Farmers in the state are forward contracting less of their anticipated soybean production compared to last year. They do not want a repeat of last year when they sold too much of their crop too early only to see soybean prices double by the time the crop was harvested.

The 2021/22 soybeans in Brazil were 78% planted as of late last week compared to 67% average according to AgRural.