Brazilian Soy Harvest Underway

Although planting of soybeans has only just been completed in some parts of Brazil, the harvest is already underway in other areas.

Farmers in Mato Grosso planted twice as many early varieties of soybeans this year, and the state is expected to have harvested around 4 MMT by the end of January.

Some of the new super early varieties reach full maturity within 100 days from planting, and the benefits from growing them are significant.

Old crop carryover stocks are negligible, after Brazil campaigned aggressively to sell last season's production at the front-end of the marketing year. Processors will therefore pay a reasonable premium for early beans.

These varieties understandably yield less than their slower growing relations, typically around 52-54 sacks per hectare, compared to around 60 sacks per hectare from later maturing soybeans.

Harvesting now however also brings other benefits that outweigh lower yields such as giving growers the option to plant a second crop of corn or cotton, and keeping agrochemical expenditure down to a minimum.