Mato Grosso bean harvest hits 28.7%, as IMEA warns on yields

The harvest in Brazil’s biggest soybean producing state of Mato Grosso has reached 28.7%, up nearly 9 percentage points in the week, but falling 3 percentage points short of the five-year average, according to a weekly report by the state’s farm economics institute.

IMEA said that the harvest in the mid-north part of the state was most advanced at 43%, but was well short of the 65% harvested at this time last year.

Brazil’s national harvest has been delayed by a few weeks due to heavy rains in October and November that impeded planting rates and IMEA reported that there were “warning signs” for this year’s crop as rains are now impacting harvest.

“Although the harvest has picked up, climate factors are having a direct impact. Regarding yields, some problems in grain quality were reported this week, and although still not representative, they ignite a warning signal with the weather forecast for next week,” the report said.

The late harvest has also impacted forward sales, with beans sold forward by the end of January reaching 48% versus 66% at this time last year.
 
Mato Grosso produces around 30 million mt of soybeans a year, accounting for just over a quarter of national production.