Highlight Highlight of Soybeans

Soybeans: Brazilian trading remains slow

Soybean commercialization had another slow evolution period in November. With growers withdrawn due to the fall in prices and the progress of the planting of the new Brazilian crop, large volumes of the physical and new crops were not traded during the month.
According to a survey conducted by SAFRAS & Mercado, with data collected up to December 10, 97.5% of the Brazilian soybean crop of 2017/18 have already been committed. This is equivalent to nearly 117.8 million tons already traded out of an estimated output of 120.8 million tons. In the same period of the previous year, the index was 93%, while the normal five-year average for the period is 95.5%.
With regard to the new Brazilian crop (2018/19), the survey indicates that 34.5% of production have already been committed. The index is equivalent to roughly 42.17 million tons already traded, from an estimated crop of 122.22 million tons. At the same time last season 26.7% were sold, while the five-year average for the period is 37%.

About the author

Dylan Pasqua

Leave a Comment