Despite the slight advance in sales of Brazilian soybeans in September, the 2020/21 crop has already reached 90.8% of the expected production by October 8. “The limited movement confirmed our expectation, despite the partial rise in prices. It reflects the fact that the harvest has already been greatly sold, due to prices still below the maximum for the year, and the lack of greater need from producers”, said Flávio Roberto de França Junior, DATAGRO’s Grain coordinator. The current production forecast for the 2021 crop is 136.97 million tons, and Brazilian soybean growers have a total committed of 124.39 million tons. According to the preliminary projection, the Brazilian crop has the potential to reach 144.07million tons next year, counting on regular weather and normal productivity. Corn sales from the 2020/21 summer crop in the Center-South region of Brazil reached 90.7% of expected production, over 86.3% in the previous survey and 95.3% at the same period last year. The total 2020/21 crop forecast continues at 85.92 million tons.
Source: DATAGRO (*Translated by Ia Niani)