The commercialization of the 2019/20 soybean harvest in Brazil reached 80.6% of the expected production until May 8th, with 97.72 million tons, surpassing the 2016 record of 67.7%, and also above the historical average of 60.1%, according to a monthly survey by DATAGRO Consulting. Producers followed prices driven by the exchange rate during April. In the last survey, business was at 71.5%. Early marketing of the 2020/21 harvest also registered progress and reached 28.2% of production.
“The expected positive average price behavior was confirmed, and again in spades, with new records reached. And the strong improvement in prices, generated especially by the explosion in the exchange rate, and also with firm premiums, caused producers to resume their selling interest. Taking advantage of a moment of strong buyer interest, notably for export”, explains Flávio Roberto de França Junior, coordinator of DATAGRO Grãos.
Business data for the 2020/21 soybean harvest, with 28.2% of advance commitment by Brazilian producers, also shows a record for the period, being much higher than the previous 12% in 2016 and the five-year average of 6.7% of production. Last month, business reached 19.9%. Considering the statistical exercise with a new harvest production projection of 128.90 million tons, we would have 36.39 million tons sold in advance by Brazilian producers
Commercialization of corn in Brazil
The sale of summer corn from the 2019/20 harvest in the Center-South of Brazil has also advanced strongly in recent weeks and reached 66.4% of expected production by May 8, according to Consultoria DATAGRO. This business flow is above the historical average of 47% and represents an increase of more than 18 percentage points compared to April (48.2%), with widespread business, mainly in the first part of the month, before prices began to fall.
Sales of the 2020 winter harvest in the Center-South of the country increased to 56% taking into account data from recent weeks. Although at a slower pace than business with the summer harvest, sales with the winter harvest are more advanced in relation to the 44% at the same time last year and the five-year average of 42%. But behind the 2016 peak of 59%. In the previous month, the percentage committed by producers reached 51%, according to figures reviewed by DATAGRO.
Source: DATA
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