Porto Alegre, September 9, 2020 – Although a high volume of the new Brazilian soybean crop has already been traded, the good prices registered in August continued to encourage growers to move forward with negotiations. As for the physical crop, few deals were registered during the month, as the volume of soybean still in the hands of growers is very small.
According to a survey carried out by SAFRAS & Mercado, with data collected until September 4, 97.9% of the current Brazilian soybean crop (2019/20) have already been sold, with a small advance of 2.2% over the index of the previous month (95.7%). The current percentile is equivalent to nearly 122.66 million tons already negotiated, out of an estimated crop of 125.34 million tons. In the same period of the previous year, the index was 85.8%, while the five-year average for the period is 86.3%.
For the new Brazilian soybean crop (2020/21), which starts to be sown in September, the survey points out that 49.3% have already been committed to a crop estimated at 132.171 million tons or nearly 65.09 million tons. There was a small increase of 6.0% compared to August (43.3%). In the same period of the previous year, only 20.8% had been sold. The five-year average for the period is 20.9%.
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