Our latest report for Brazilian G&O, detailing farm-gate prices, amounts sold, exports, and crush margins for corn & soybeans, as well as regional weather developments.
- Brazilian soybean farmgate prices increased 1% in August compared to the previous month. Stronger CBOT futures favored local soybean prices despite the stronger Brazilian real.
- The corn farmgate price was down 1% in August versus the previous month. Harvest progress and a lack of warehouse capacity have pressured internal market prices.
- In July 2023, Brazilian soybean exports reached 9.7m metric tons, 30% below the previous month. Year-to-date, soybean exports are 20% ahead of last season’s pace.
- In July 2023, corn exports were 4.2m metric tons, up 3% from last July. Year-to-date, corn exports have reached 15.9m metric tons, an all-time record.
- The 2023/24 soybean planting is expected to begin in mid-September. By that time, the sanitary break will have ended in Mato Grosso and Paraná. NOAA is forecasting an El Niño event, which limits rain in the north and northeast of Brazil.
Source: https://research.rabobank.com/far/en/sectors/grains-oilseeds/brazilian-go-monthly-august-2023.html
- Brazilian soybean farmgate prices increased 1% in August compared to the previous month. Stronger CBOT futures favored local soybean prices despite the stronger Brazilian real.
- The corn farmgate price was down 1% in August versus the previous month. Harvest progress and a lack of warehouse capacity have pressured internal market prices.
- In July 2023, Brazilian soybean exports reached 9.7m metric tons, 30% below the previous month. Year-to-date, soybean exports are 20% ahead of last season’s pace.
- In July 2023, corn exports were 4.2m metric tons, up 3% from last July. Year-to-date, corn exports have reached 15.9m metric tons, an all-time record.
- The 2023/24 soybean planting is expected to begin in mid-September. By that time, the sanitary break will have ended in Mato Grosso and Paraná. NOAA is forecasting an El Niño event, which limits rain in the north and northeast of Brazil.
Source: https://research.rabobank.com/far/en/sectors/grains-oilseeds/brazilian-go-monthly-august-2023.html