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October 20, 2020

2020/21 Brazil Corn 47.2% Planted vs. 54.1% Average

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

The full-season corn in Brazil is 47.2% planted compared to 58.8% last year and 54.1% average according to AgRural. The full-season corn accounts for only about one quarter of Brazil's total corn production. Approximately three quarters of Brazil's corn is produced as the safrinha crop and that crop is being put more at risk for every week that the soybean planting is delayed.

Many Brazilian farmers would like to have their soybeans planted by October 25th in order to have enough time to plant their safrinha corn during the ideal planting window. October 25th is next weekend, but only 6-9% of the soybeans have been planted. Therefore, there is an increasing likelihood that much of the safrinha corn will be planted later than desired, which increases the chances of lower yields.

Parana Corn - The Department of Rural Economics for the state of Parana (Deral) reported that as of earlier last week, 78% of the full-season corn had been planted in the state. This represents an advance of 13% for the week. The corn is 23% germinating and 77% in vegetative development. The crop is rated 1% poor, 14% average, and 85% good.

Rio Grande do Sul Corn - The 2020/21 corn in Rio Grande do Sul was 66% planted as of late last week compared to 63% last year and 60% average according to Emater. The current dryness in Rio Grande do Sul have farmers worried that the full-season corn yields could be hurt if the dryness persists.

Minas Gerais Corn - The western part of the state did receive some rain this past week allowing farmers to start planting their full-season corn. The full-season corn in the state is 2.5% planted, which is approximately three weeks later than normal.

Mato Grosso Corn - Farmers in Mato Grosso only plant a small amount of full-season corn. Conab estimates that the small family farmers in the state will plant 42,900 hectares of full-season corn compared to 5,400,000 hectares of safrinha corn, so the full-season corn only accounts for 0.8% of the state's total corn production.

Nearly all the corn in Mato Grosso will be planted in January and February as a second crop flowing soybeans. The price of corn continues to be record high in Mato Grosso, Brazil's largest corn producer. The spot price for corn on Friday, October 9th was R$ 53.00 per sack (approximately $4.45 per bushel), which was up 3.1% for the week. At the B3 Furthers Market, corn closed last week at R$ 69.55 per sack (approximately $5.80 per bushel). Prices are record high because of the tight supply of corn in the state where 95% of the 2029/20 production has already been sold.