Porto Alegre, March 7, 2022 – The trading of the 2021/22 Brazilian soybean crop advanced at a slower pace in February compared to the improvement seen in January. Despite the continuous rise in internal prices, producers focused on the harvest and just set a few new contracts, giving priority to the delivery of previously signed contracts.
According to a survey carried out by SAFRAS & Mercado, with data collected up to March 4, 48.5% of Brazil’s 2021/22 soybean crop were sold, up 4.4% from the previous month (44.1%). The current percentage is equivalent to nearly 60.633 mln tons traded, from an estimated crop of 125.076 mln tons. In the same period of the previous year, the percentage was 62.7%, while the 5-year average for the period is 50.4%.
For the new Brazilian soybean crop (2022/23), the percentage sold reaches 7.1% of a still hypothetical crop. For this calculation, we used the productive potential of the 2021/22 crop in November, before the weather problems that brought production down. The percentage is equivalent to approximately 10.26 mln tons of a hypothetical crop of 144.712 mln tons. The first estimate by SAFRAS & Mercado for the new Brazilian soybean crop (2022/23) traditionally takes place in the month of July. Until then, this hypothetical productive potential will be used for the calculation.
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