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January 3, 2011

First Harvested Soy in Brazil Could be from Parana

In addition to strong prices for their soybeans, farmers in Parana may also have the opportunity to receive an additional premium for their early harvested soybeans as well. At the start of the soybean harvest, processors and exporters in Brazil generally are willing to pay a premium to get the soybean supplies needed to get their operations up and running. In a normal year, the farmers in central Mato Grosso in the municipalities of Sorriso, Lucas do Rio Verde, and Sapezal (located in western Mato Grosso) start to harvest soybeans in early January and they receive the early harvest premium, but planting was delayed in these regions 3-4 weeks due to dry conditions. As a result, the earliest harvested soybeans in Brazil this growing season may be from the state of Parana.

The soybeans in Parana were planted generally during the month of October and the harvest of the 2010/11 soybean crop in Parana is expected to start at the end of January or early in February. The weather in Parana, which is the second largest soybean producing state in Brazil, has been very favorable thus far and over 90% of the soybean crop in the state is rated in good condition.

Most meteorologists had predicted that December would be dryer than normal in Parana due to La Nina, but it didn't turn out that way. Most regions of the state actually recorded above normal rainfall for the month of December. Most of the soybeans in Parana are still in vegetative development and the crop could still be impacted by adverse weather, but at least they have made it this far in good condition.