Porto Alegre, October 11, 2021 – Soybean sales in Brazil evolved at a slower pace in September and the first week of October, after some improvement registered in August.
With growers focused on starting the planting of the new crop, there was little interest in new business with the current and new crops. Besides, prices fluctuated in a mixed way across the country in the face of a more volatile Chicago, which helped keep growers less active over the month.
According to a survey carried out by SAFRAS & Mercado, with data collected until October 8, 89.2% of the current Brazilian soybean crop (2020/21) have already been sold, up 3.3% from the previous month (85.9%). For comparison purposes, in the previous month, the advance had been 4%. The current percentage is equivalent to approximately 122.385 million tons already traded from the expected production of 137.194 million tons. In the same period last year, the index was 98.4%, while the five-year average for the period is 91.8%.
For the new Brazilian soybean crop (2021/22), the percentage sold reached 28.1%, with an increase of 2.5% over the previous month (25.6%). The percentage is equivalent to around 39.997 million tons of a crop initially estimated at 142.236 million tons. In the same period of the previous year, the committed percentage reached 52.9%, while the five-year average is 28.4%.
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