New brazilian soybean crop sales remain slow in October

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     Porto Alegre, November 10, 2020 – The commercialization of the new Brazilian soybean crop had little progress again in October and the first week of November. With a large volume already committed and with attention focused on planting, growers showed little appetite for new business in recent weeks, maintaining the profile registered in September. With regard to the current season, very few volumes still available also register little movement.

     According to a survey carried out by SAFRAS & Mercado, with data collected until October 6, 98.7% of the current Brazilian soybean crop (2019/20) were already sold, with a small 0.3% increase over the previous month (98.4%). The current percentage is equivalent to roughly 123.67 million tons already traded, out of an estimated crop of 125.34 million tons. In the same period of the previous year, the percentage was 95.2%, while the normal five-year average for the period is 93.7%.

     For the new Brazilian soybean crop (2020/21), the survey points out that 55.1% have already been committed from the production estimated at 132.171 million tons, which is equivalent to approximately 73.56 million tons. There was an increase of 2.2% over the August figure (52.9%). In the same period last year, only 34.6% had been sold. The five-year average for the period is 30.3%.

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