Second corn planting in Brazil at 31.6% so far, down from 63% year-ago: Conab

New Delhi — Second corn planting in the nine states of Brazil, which accounts for nearly 92% of the cultivated area, was complete in 31.6% of the total forecast area as of Feb. 26, lagging significantly behind 62.8% around the same period last year, Companhia Nacional de Abastecimento, or Conab, said in its weekly report.

The first corn crop in Brazil is planted during September-December and harvested in February-May, while the second crop is planted after the soybean harvest in February-March and harvested in June-July.

The initial delay in sowing for much of Brazil's soybean crop in the South and Center-West regions is having a knock-on effect on planting the second, or safrinha, corn crop.

The success of Brazil's safrinha corn crop is vulnerable to the pace of the soy harvest each year. Farmers rush to get the safrinha crop in the ground within the ideal planting windows for their respective regions.

For both Mato Grosso, the largest producer in the country, and Goias, the ideal window closes late February to ensure that the crop has sufficient moisture to develop before rains trail off early May at the start of the dry season. Corn planted after these dates face considerably higher risks and may not be eligible for crop loss payments under government programs.

Despite the weather risks associated with late planting, farmers are likely to go ahead with planting as corn prices are favorable.

The average corn prices in some of the key producing states during Feb. 22-26 ranged between Real 65/60 kg-79.17/60 kg, up 49.43%-80.63% year on year, Conab data showed.