The Brazilian soybean harvest is moving along at a record pace. According to AgResource, Brazilian farmers had harvested 21% of their 2018/19 soybean crop as of last Friday compared to 6.4% last year and 8.6% for the 5-year average. The fastest harvest is in Mato Grosso with 44% of the soybeans harvested followed by Mato Grosso do Sul at 29% and Parana at 24%.
With 21% of the soybeans in Brazil harvested, that means that approximately 40-45% of the crop is turning yellow. Once a soybean plant starts to turn yellow, there is no more potential increase in yield because from that point forward, the seeds start to lose moisture. Therefore only 50% of the soybeans or less could be helped going forward if the weather pattern would shift toward increased rainfall.