Brazilian soybean commercialization has another month of little progress

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         Porto Alegre, March 15, 2021 – The commercialization of Brazil’s 2020/21 soybean crop again had a small advance in February and early March. With much of the national production already sold in advance, growers have shown little interest in new sales. The focus of growers is on the harvest and the delivery of contracts signed in previous months. The quality of the newly-reaped soybean is a concern in some states.

         According to a survey conducted by SAFRAS & Mercado, with data collected until March 9, 62.7% of the current Brazilian soybean crop (2020/21) have already been sold, up 2.9% from the previous month (59.8%). The current percentage is equivalent to around 83.46 million tons already traded, out of an estimated crop of 133.104 million tons. In the same period of the previous year, the index was 61%, while the normal five-year average for the period is 49%.

         For the new Brazilian soybean crop (2021/22), there is still no consolidated data at national level, although several states have already started and accelerated sales. It is likely that in April we already have a national percentage. Meanwhile, we can point out that growers in the state of Mato Grosso may have already negotiated around 20% of the new crop, a percentage never seen at this time of year.

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