Brazil planted 61% of soybeans for the 2023/2024 season, slowed by dry conditions

The hot and dry conditions in much of central Brazil is slowing the soybean planting, slowing the soybean development, and resulting in soybeans that need to be replanted. Even if the weather cooperated for the remainder of the growing season, the late planted soybeans run the risk of lower yields. The forecast is calling for more erratic weather going forward and if that turns out to be the case, the Brazilian soybean production could move lower. Over the past 10-15 days, some areas of central and northeastern Brazil have received only 20% of their normal rainfall accompanied by extreme temperatures. In contrast, some areas of southern Brazil have received 200% to 300% their normal rainfall. In both cases, the weather has been detrimental for the early soybean crop. Dry conditions are a major concern in parts of Mato Grosso, Goias, northern Mato Grosso do Sul, and MATOPIBA (Maranhao, Tocantins, Piaui, and Bahia). Wet conditions are a concern in southern Parana, Santa Catarina, ...