Brazil: Soybean Prices Decline, Corn Prices Increase in Mato Grosso
Farmers in Mato Grosso, which is Brazil’s largest soybean producing state, have completed harvesting the 12.66 million hectares of soybeans in the state (31.2 million acres). The Mato Grosso Institute of Agricultural Economics (Imea) estimates that the state will produce a record 49.62 million tons of soybeans in 2024/25. The statewide soybean yield is estimated at approximately 3,919 kg/ha or 58 bu/ac.
The spot price for soybeans in Mato Grosso declined 0.1% last week to R$ 107.61 per sack or approximately $8.60 per bushel.
On the other hand, spot corn prices in the state increased 0,5% last week to an average of R$ 71.63 per sack or approximately $5.70 per bushel. Corn supplies in the state are very tight due to the high demand of corn ethanol production. Mato Grosso is the largest corn producing state in Brazil and the corn is produced as a second crop following soybeans. Approximately 15% of the 2024/25 safrinha corn was planted after the ideal planting had closed in late February. The safrinha corn harvest will get underway in early June.
For almost 30 years of expertise in the agri markets, UkrAgroConsult has accumulated an extensive database, which became the basis of the platform AgriSupp.
It is a multi-functional online platform with market intelligence for grains and oilseeds that enables to get access to daily operational information on the Black Sea & Danube markets, analytical reports, historical data.
You are welcome to get a 7-day free demo access!!!
Read also
Palm oil prices are expected to continue rising after a short-term correction
Georgia reduced wheat imports in April
Brazilian soyabean oil exports jump 47% amid record crop and weak domestic demand
Zimbabwe plans new grain import levies to strengthen food security
Global vegetable oil production to hit record high again – USDA
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon