Soybean trading pace improves but remains below average in Brazil

Published 2023년 3월 13일

Tridge summary

The article reports on the sales performance of Brazil's 2022/23 soybean crop, showing an increase in sales but still falling short of the five-year average for this period. The sales increase is attributed to the arrival of the new crop, although the large volume of harvested soybeans has limited the speed of sales. As of March 3, 2023, 35.4% of the crop has been sold, equal to about 53.924 million tons out of a total estimated crop size of 152.425 million tons. This figure is lower than the corresponding period last year and the five-year average. The article also mentions that early estimates for the sales of the 2023/24 Brazilian soybean crop stand at 1.6%, with detailed figures expected to be released in July.

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Original content

The soybean business pace for the 2022/23 Brazilian crop registered some improvement in February and the first days of March. Even so, the percentage sold remains well below the five-year average for this period of the year. The arrival of the new crop has encouraged growers to speed up sales, but the negative pressure from the record volume being reaped has prevented an even better pace. The fact is that, due to the need to sell production, growers will have to keep selling even in an environment of weaker prices in the coming few weeks. According to a survey carried out by SAFRAS & Mercado, with data collected through March 3, 35.4% of Brazil’s 2022/23 soybean crop were sold, with an increase of 4.9% from the percentage of the previous month (30.5%). The current percentage is equivalent to approximately 53.924 mln tons traded, out of a crop currently estimated at 152.425 mln tons. In the same period of the previous year, the percentage was 48.5%, while the five-year average for ...

Source: UkrAgroConsult