According to Datagro, Brazil’s 2021/22 soybean crop showed moderate progress in the last month, reaching 69.9% of the expected production by June 3. On the other hand, it continues below the 87.5% of the record 2019/20 crop, as well as below the 76.3% in 2021, and down from the average 73.3% in the last 5 years. “Average prices rose in May, and this encouraged producers to return to market, but they are still cautious, since market environments remain tense and with room for new increases”, said Flávio Roberto de França Junior, grain coordinator at DATAGRO. Considering the 2021/22 crop forecast, revised to 124.87 million tons, Brazilian soybean farmers traded 87.28 million tons by June 3. In the same period last year, this volume was much higher both in relative and absolute terms (105.92 million tons). DATAGRO’s analysis shows that 11.7% of the estimated production of the 2022/23 oilseed crop is commercially compromised.
Source: DATAGRO (*Translated by Ia Niani)