Over 90% of the 2020/21 soy harvest has been sold
The sale of the 2020/21 harvest of Brazilian soy reached 90.8% of the production expected by October 8. It is still below the average of 91.5% of the last 5 years, according to a survey by the DATAGRO consultancy firm.
Considering the current production forecast for the 2021 harvest, maintained at 136.97 million tons, Brazilian soy growers have a total of 124.39mt committed. In the same period last year, this traded production volume was 125.76mt.
According to DATAGRO, 25.5% of the estimated production of the 2021/22 oilseed harvest is commercially committed. This flow is below the 28.8% average of the last 5 years and well below the 50.0% of the previous record that occurred at the same time in 2020.
According to the preliminary forecast, which considers an area 4% larger, next year's harvest has the potential to reach 144.07mt. As such, we would have 36.76mt sold in advance, much less than the 68.48mt of the same period in 2020.
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