The pace of soybean planting in Brazil is slowing down amid unfavorable weather conditions

According to the AgRural agency, as of October 12, 17% of the planned area was sown with soybeans in Brazil, compared to 24% on this date last year. In the first weeks of the current season, sowing rates reached a record level, but have now decreased due to unfavorable weather conditions - high temperatures and irregular rainfall.

In the south of the country, heavy rains lead to flooding, which can reduce the quality and yield of winter wheat, as well as soybeans and corn, which are already mostly planted. At the same time, in the north and in the center of the country, due to high temperatures and a lack of precipitation, it may become necessary to replant part of the crops. In the main producing state of Mato Grosso, sowing has been stopped due to the heat at 30-36 ^o C and lack of precipitation.

No significant rainfall is forecast in the central regions during the week, so farmers are slowing planting, which could prevent the planned increase in soybean acreage and the production of a record soybean crop.

In the center and south of Brazil, 41% of the area is planted with corn, compared to 46% last year.

In Argentina, the intensity of precipitation has increased, but not enough to compensate for the drought of the previous season. Farmers are actively planting in anticipation of additional rains next week.

Traders are closely monitoring the weather in South America during the planting season to gauge the potential for crops that could reach high levels in Argentina and Brazil based on data on increased soybean and corn plantings.