Mar 06, 2024
2023/24 Brazil Safrinha Corn 86% Planted vs. 70% Last Year
Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.
The 2023/24 safrinha corn in Brazil was 86% planted as of late last week compared to 70% last year. This represents an advance of 13% for the week. A rapid early soybean harvest allowed farmers to plant their safrinha corn earlier than had been expected and the planting continues to be approximately a week ahead of last year. The early condition of the corn is OK, but there are a few areas of south-central Brazil where dryness is starting to be a concern. A larger concern is the Brazilian National Weather Service forecast for below normal rainfall in most of Brazil during the month of March. The first corn crop in southern Brazil is 49% harvested compared to 37% last year.
Mato Grosso - The safrinha corn in Mato Grosso was 90% planted as of late last week compared to 89.3% last year and 88.8% average. This represents an advance of 9.6% for the week. The most advanced planting is in the mid-north region with 96.7% planted. The slowest planting is in southeastern Mato Grosso where 81.8% of the corn has been planted. Below is the safrinha corn planting pace (red line) for Mato Grosso from the Mato Grosso Institute of Agricultural Economics.
Parana - Farmers in Parana had planted 66% of their safrinha corn as of earlier last week and the corn is rated 6% average and 94% good. Farmers in Parana have harvested 65% of their first corn crop.
Brazil corn estimates - There is a wide range of estimates for the 2023/24 Brazil corn estimate just like there is for the Brazil soybeans. The same two companies I cited above concerning their soybean estimate also vary widely on their corn estimate. StoneX is estimating the 2023/24 Brazil corn production at 124.4 million tons, while AgResource is estimating the corn production at 114.9 million tons. In 2022/23, Brazil produced 139 million tons.