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October 8, 2020

Farmers in Parana, Brazil waiting for Rain to Plant Soybeans

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

Most farmers in the state of Parana in southern Brazil are still waiting for enough rain to start planting their 2020/21 soybeans. According to the Department of Rural Economics (Deral), 8% of the soybeans had been planted by earlier this week.

In the municipality of Cascavel, which is located in western Parana, farmers are still waiting for enough soil moisture to start planting their 2020/21 soybeans. If they can finish their planting over about the next two weeks, it will give them enough time to plant their safrinha corn before February 5th, which should guarantee good corn yields if the weather during the remainder of the growing season cooperates. If the safrinha corn is planted after February 5th, the yield potential starts to decline on a daily basis.

Farmers were allowed to start planting soybeans on September 10th, but hot and dry conditions kept most farmers out of the field. For the lucky farmers who received rain about two weeks ago, they have been planting since receiving the rain.

Farmers in Cascavel have forward contracted 35% to 40% of their anticipated 2020/21 soybean production for prices in the range of R$ 85.00 to R$ 98.00 per sack (approximately $7.28 to $8.40 per bushel).

Current prices for soybeans in Brazil are record high, up to R$ 150.00 per sack (approximately $12.75 per bushel), so farmers are very anxious to plant their soybeans as soon as possible to insure good yields. The forecast is calling for improved chances of rain over the next few days.