Farm Progress America, September 25, 2024

Mike Pearson takes a look at the vast drought -- Brazil is experiencing.

Fires have been blazing across the vast areas of the Amazon Rain Forest with devastating consequences.

Over 95,000 hot spots have been recorded during the drought fueled fire season-- which is the most severe on record. Over 6 million acres have been burned and the environmental impact is staggering.

The drought has delayed soybean planting which could mean decreased yields when it comes to harvest. Market analysts expect a 5 percent drop in soybean production for next year's crop.

Plus, there is fear that harvest issues could plague the area in 2025 if the drought persists.

Coffee plants are wilting in the regions where coffee is grown. And if that's not enough, yields are down dramatically and so is the quality of the coffee beans. The outlook for next growing season is also looking bleak.

When it comes to sugar cane, the drought and fires have ravaged 500,000 acres. The sugar yield is expected to drop by as much as 50 percent.

For U.S. farmers, the immediate concern is soybeans and with the lower harvest in Brazil, how it could impact the supply and demand.

Even though it's still early in the planting window for soybeans, many eyes are on the situation.

Farm Progress America is a daily look at key issues in agriculture. It is produced and presented by Mike Pearson, farm broadcaster and host of This Week in Agribusiness .