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March 11, 2021

Soybean Selling Slows in Brazil as Farmers Struggle to Harvest

Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.

Brazilian farmers have slowed the selling pace of their 2020/21 soybean crop as they focus their efforts on harvesting their crop. Many farmers in Brazil are very frustrated by the slow harvest pace being caused by persistent wet weather. Nationwide, the 2020/21 soybeans are a little more than one-third harvested competed to last year when the crop was more half harvested.

According to the consulting firm Safras & Mercardo, Brazilian farmers had sold 62.7% of their anticipated 2020/21 soybean production as of last Friday. This represent an advance of only 2.9% from a month earlier.

Sales are now about equal to last year when 61% of the soybeans had been sold by this date, but still ahead of the five-year average of 49%.

In the biggest soybean producing state of Mato Grosso farmers have sold 74% of their soybeans as compared to 79% last year. In the state of Parana, farmers have sold 63% compared to 48% last year and 39% average.