The second-crop planting has some additional regional difficulties due to excessive rainfall in February. We have not yet noticed, however, signs of a reversal in this planting intention for the second crop of 2020 due to the later planting this year. A summer crop that started late is defining an also later winter crop. Of course, this brings tension to the domestic market until the weather gets regular for crops until June. In the meantime, the only concrete fact is that the area will be planted despite the delay.
The planting of the 2020 second crop reached 47% of the estimated area until last week. This percentile is very close to the five-year average of 44.4%. Therefore, within the historical framework, there is nothing wrong with the second crop. The point is that in recent years growers have been working on to adjust the soybean crop to a planting more suitable to the second corn crop. In 2019 the climate allowed an exceptional planting, with 67.3% of the area having already been planted until this period of February. However, almost 30% of the area were practically cultivated until March 15. The big issue is that the fall of 2019 presented an exceptional condition and favored crops in this combination of early planting with a very regular climate.