A survey by the DATAGRO consultancy shows that the sale of the 2020/21 crop of soybeans slightly advanced in October but has already reached 92.8% of the expected production up to November, 5. “The limited movement confirms the expectations of general price declines in the month, in addition to the fact that the harvest is heavily sold, prices are now well below the highs of the year “, said DATAGRO’s Grains coordinator, Flávio Roberto de França Junior. Considering the current production forecast for the 2021 crop at 136.97 million tons, Brazilian soybean producers have a total of 127.06 million tons of soybean. In the same period last year, this production volume was higher in nominal terms but lower in absolute terms, reaching 126.53 million tons. According to DATAGRO, by 28.2% of the estimated production of the 2021/22 soybean crop has already been traded. This flow is below the 32.3% average of the last 5 years and well below the 53.4% of the previous record.
Source: DATAGRO (*Translated by Ia Niani)