Brazil’s 2021/22 soybean sales reached 74.3% of the projected output this Friday, according to Safras & Mercado. The entity also estimated a 15.7% growth for the 2022/23 soybean crop, to be planted by September. Last month, the current crop sales increased by 8.4%. However, the current index is behind the same period last year (79.2%) and also behind the five-year average (77.6%). Considering an estimated harvest of 122.3 million tons, the total volume traded was 90.92 million tons. For the new crop (2022/23), considering an estimate of 144.7 million tons, a volume of 22.83 million tons have already been fixed for sale. In the same period last year, the earlier new crop sales were 21.5%, while the average for the period is 19.3%. On June 3, the index was 13.3%.
Sources: Reuters/Noticias Agricolas (*Translated by Ia Niani)