The soybean sales of the 2019/2020 harvest reached 73.9% of the projected production, according to a report by the Safras & Mercado consultancy, with data collected until April 9. In the previous report, with data from 6 March, the commercialization rate was 61%. “Commercialization continued to advance at a good pace during March, driven by a favorable exchange rate and strong export demand,” says analyst Luiz Fernando Roque, from Safras & Mercado. In the same period last year, soybean trading involved 48.3% and the average for the period is 51.4%. Taking into account an estimated harvest of 124.188 million tons, the total soybean already negotiated is 91.743 million tons, according to Safras. Early sales for 2020/2021 jumped from 14% in early March to 21.4%, the report points out. As the consultancy has not yet projected a soybean harvest for the next season, the basis for calculation was production equal to this year. This means that about 26.5 million tons have already been negotiated.
Source: Canal Rural