Brazil sold 58.6% of the expected soybean production for the 2022–2023 growing season up to June 2. DATAGRO reports a sharp decline from the 69.9% sold during the same time last year. Additionally, it is less than the 87.5% mark set for the 2019–20 season and the 75.2% average of the five years prior. The monthly growth was 7%, which is below the 7.8% average and the 8.6% growth from the prior month. These sales, according to DATAGRO’s research leader Flávio Roberto de França Junior, confirmed predictions. “As we saw in prior months, these sales occurred despite yet another significant price decrease.” He continues by saying that producers were “forced” to sell in order to pay for previous financial commitments, particularly those tied to current obligations.
Sources: DATAGRO/Noticias Agricolas (*Translated by Ia Niani)