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The increase was 3.8% compared to the previous report, above the 3.0% normal advance pattern for the date. “The limited movement confirmed our expectations, despite a partial increase in prices. It reflected the fact that the harvest was already heavily sold, due to prices still below the year's highs, and the lack of greater need for sales on the part of producers”, highlights the Grains coordinator at DATAGRO, Flávio Roberto de França Junior.
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“Considering the current production forecast for the 2021 harvest, maintained at 136.97 million tons, Brazilian soybean farmers have a total commitment of 124.39 million tons. In the same period last year, this negotiated production volume was 125.76 million t.”, adds the consultancy.
In this context, 25.5% of the estimated production of the 2021/22 oilseed harvest is commercially committed. This flow is below the 28.8% average of the last 5 years and well below the 50.0% of the previous record that occurred at the same time in 2020. “According to the preliminary projection, which considers a larger area in 4%, reasonably regular climate and productivity within normality, next year's Brazilian harvest has the potential to reach 144.07 million tons. Therefore, we would have 36.76 million tons sold in advance, a much lower volume than the 68.48 million tons at the same time in 2020”, he concludes.
By: Leonardo Gottems | agrolink
