As of last week, soybean harvest in Brazil’s Mato Grosso was just over 2 percent complete, down about 12 points YOY and almost 10 points below the five-year average. Rain is expected in Mato Grosso in the near term but should not hinder decent harvest progress through February.
Crop stress may increase in parts of northern and northeastern Brazil as inadequate rainfall and warmer temperatures are expected to dry out soil in the near term, but most other areas in Brazil are expected to receive beneficial rain during the next couple of weeks.
In Argentina, the soybean crop was rated just 23 percent good to excellent and 10 percent poor to very poor as of Jan. 21. Argentine corn was at 28 percent good to excellent and 8 percent poor to very poor. Argentine corn harvest may begin in late February, but the country’s soybean harvest typically does not kick off until March.
Recent rain in Argentina has relieved most growing areas, with some exceptions in the southern region. Additional rains are forecast across nearly all the country during the next week, which should support 2020/21 corn and soybean crops through early February.