Feb 08, 2024

Imea Lowers Safrinha Corn Estimate for Mato Grosso

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

The Mato Grosso Institute of Agricultural Economics (Imea) is now estimating that farmers in the state will plant 6.94 million hectares of safrinha corn (17.1 million acres), which is down 7.3% from 2022/23. The reason for the reduction are the low corn prices which do not cover the cost of production. The price of corn last week in Mato Grosso was R$ 39.90 per sack (approximately $3.62 per bushel). Mato Grosso is Brazil's largest safrinha corn producing state.

The 2023/24 safrinha corn yield in the state is estimated at 103.8 sacks per hectare (99 bu/ac), or down 11% compared to 2022/23. The 2023/24 safrinha corn production in Mato Grosso is estimated at 43.28 million tons or down 1% from January and down 17.5% compared to 2022/23.

As of late last week, the safrinha corn in Mato Grosso was 28.6% planted compared to 16.4% last year and 31.5% average. This represented an advance of 17.4% for the week. The most advanced safrinha corn planting was in the mid-north region of the state where the crop was 42% planted. The ideal planting window for safrinha corn in Mato Grosso closes about the third week of February. Planting after that date increases the risk of dry weather setting in before the crop reaches maturity.

Nationwide, the safrinha corn in Brazil was 27% planted as of late last week compared to 11% last year. Safrinha corn represents approximately 75% of Brazil's total corn production.