Farmer Selling in Brazil Slower Than Average

Farmers selling in Brazil has been slow in recent months due to low soybean and corn prices resulting from large anticipated crops in the United States. For both the 2023/24 and 2024/25 crops, farmer selling in Brazil has been slower than average.

In Brazil, farmers have sold 77.5% of their 2023/24 soybean crop compared to 75.6% last year and 82.2% average according to Safras & Mercado. This represents an advance of 5.7% for the month.

For the 2024/25 soybean production, farmers have forward contracted 18.2% of their anticipated production compared to 13.9% last year and 22.7% average. This represents an advance of 3.6% for the month.

Brazilian farmers may start planting their 2024/25 soybeans on September 1st, which is approximately two weeks earlier than last year. Farmers with irrigation capacity will start planting on September 1st, but farmeres without irrigation will have to wait for the first summer rain to ensure enough soil moisture to guarantee emergence and stand establishment.

In the state of Mato Grosso, farmers have sold 58.6% of their 2023/24 corn production according to the Mato Grosso Institute of Agricultural Economics (Imea). This represents an advance of 13% for the month.

For the 2024/25 corn crop in Mato Grosso, farmers have forward contracted 7.3% of their anticipated production, which is up 2.7% for the month. Farmers will start planting their 2024/25 safrinha corn in early January after the first crop of soybeans is harvested.

Tags: corn, planting, Brazil, prices, soybeans, Production, crop, selling