While some crop row in South America areas are still mostly dry, some key region in Argentina and Brazil have seen an uptick in precipitation and soil moisture in the last ten days, allowing planting to accelerate and lessening the risk of replanting due to prolonged dryness.
As of Oct. 7, early-season corn in Argentina was some 42 percent planted, up 3 points YOY but 11 percent below the five-year average. In Brazil, early corn planting was 39 percent complete, on par with the five-year average but 6 points below last season’s pace. Brazilian soybeans were less than 4 percent planted nationwide, the slowest pace in ten years, per AgRural.
The industry has cited dryness as the main factor for delayed planting, which may cut into 2020/21 safrinha production, but it is still too early to make a definitive call on that.