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March 23, 2018

Safrinha Corn Planting Complete in Mato Grosso

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

Farmers in Mato Grosso have finished planting their 2017/18 safrinha corn crop according to the Mato Grosso Institute of Agricultural Economics (Imea). In a report released last Monday, Imea indicated that farmers had planted 99% of the anticipated 4.485 million hectares of safrinha corn (11.0 million acres).

The current acreage estimate would represent a decline of 5.4% compared to last year. Farmers cut back on their safrinha corn acreage due to low corn prices and a delay in getting their soybeans harvested. Farmers also are expected to put less resources into the corn crop resulting in lower corn yields compared to last year. Imea is anticipating that the total corn production in the state will be 25.9 million tons in 2017/18, which would be down 14.9% compared to the 30.4 million tons produced last year.

The most advanced safrinha corn in Mato Grosso will start to pollinate within 1-2 weeks and the crop in general is rated in good condition.

Recent corn prices in Mato Grosso have been increasing in recent weeks due to improved international corn prices and limited corn supplies in the state. The domestic price for corn in Mato Grosso last week averaged R$ 20.10 per sack or approximately $2.80 per bushel, which is 11% higher than in February.

Farmers have been reluctant to sell their existing corn supplies in the hope of higher prices. This has prompted livestock producers to bid up prices for existing supplies.

Farmers in Mato Grosso have sold 37% of the anticipated 2017/18 corn production which is very similar to last year and the 5-year average. The safrinha corn harvest in Mato Grosso should start in early June and conclude by the end of July.

Mato Grosso is the largest safrinha corn producing state in Brazil followed by Parana where 94% of the safrinha corn has been planted. Safrinha corn planting is 95% complete in Minas Gerais, 85% complete in Goias, and 76% complete in Mato Grosso do Sul.