Brazilian soybean crop marketing reached 51.6% of expected production by May 5, falling far short of the 64% for the same period in 2022, and the record-breaking 80.6% of the 2019/20 harvest, likewise significantly below production from the 67.4% of the average in the last five years. According to Flávio Roberto de França Junior from DATAGRO, “producers ended up being forced to sell to meet financial commitments” despite the confirmation of a recent large price decline. He continues, “The season’s defensive selling attitude was driven by unappealing and falling pricing, as well as a steep rise in production costs, in addition to some uncertainty over the weather under the impact of La Niña, and political and economic worries with the new government”.
Source: DATAGRO/Noticias Agricolas (*Translated by Ia Niani)