11/06/24 Afternoon CommStock Report – Brazil Looks To Be The World’s SAF Supplier

Brazil’s planting pace has sped up to the point where they have now caught up to their historical 3-year average, reaching 58% planted overall mid-week. Both Mato Grosso and Parana are already 80% planted. We spoke with one large producer with 50,000 acres under operation in Central Mato Grosso that was finished about 10 days ago. They can plant about 2,200 acres per day. (Which means they could plant my whole farm in about 4 hours). They use different maturity groups to help stagger the soybean phases so that they won’t all be ready for harvest at the same time. Part of their strategy is to also use lighting speed planting so that they can get their second crop corn in earlier. They are intent on planting “safrinha” corn by January.   The weather outlook remains positive across all major growing regions through mid-November. In fact, rainfall appears to be building with large parts of Mato Grosso and Goiás expected to receive up to 8″ in the first half of November alone. Surrounding states should see 1″ to 3″ which will be enough to keep the “pedal to the metal” when it comes to planting speed as well as helping…