According to DATAGRO Grains, by February 3, Brazil’s trade of the 2021/22 soybean crop reached 97.7% of expected production, which is slightly higher than the 97.2% in the 2020/21 cycle, but lower than the 99.9% of the record 2019/20 harvest and also lower the average of 98.3% over the last 5 years. A monthly growth of 2.0% was recorded, which is lower than the 2.4% increase from the previous month but 1.1% higher than the average for the time period. “Our forecast for a drop in pricing pushed growers to sell the remaining harvest in order to empty the warehouses before the arrival of the new crop. We barely had an off-season this cycle, despite the low stock levels, says Flávio Roberto de França Junior, economist and research leader at DATAGRO Grains.
Sources: Datagro/Noticias Agricolas (*Translated by Ia Niani)