Brazilian soybean sales had little progress in December and early January
Porto Alegre, January 12, 2021 – The commercialization of the new Brazilian soybean crop again advanced at a slow pace in December and early January. With a large part of Brazilian production already sold in advance, growers continued to show little interest in new negotiations. Moreover, the focus remains on consolidating production. Only after the harvest and greater clarity about the true volume produced, growers must resume active negotiations.
According to a survey conducted by SAFRAS & Mercado, with data collected until December 8, 99.9% of the current Brazilian soybean crop (2019/20) have already been sold, up 1% from the percentage of the previous month (98.9%). The current percentage is equivalent to approximately 125.43 million tons already traded, out of the estimated output of 125.62 million tons. In the same period of the previous year, the percentage was 98.5%, while the normal five-year average for the period is 97.3%.
For the new Brazilian soybean crop (2020/21), the survey shows that 57.7% have already been committed from the production estimated at 132.498 million tons, which is equivalent to nearly 76.38 million tons. There was a slight increase of 1.2% compared to the October figure (56.5%). In the same period of the previous year, 43.1% had been sold. The five-year average for the period is 38.6%.
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