Feb 17, 2015

Brazilian Farmers have Sold 38% of their Soybeans vs 54% Average

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

Brazilian soybean farmers continue to be slow sellers of their anticipated 2014/15 soybean crop. According to a report from Safras & Mercado, farmers in Brazil have sold 38% of their anticipated 2014/15 soybeans compared to 58% last year and 54% average. The 38% sold represented an advance of 6% compared to a month earlier.

In the largest soybean producing state of Mato Grosso, the farmers have sold approximately 55% of their crop compared to an average of 69%. The soybean crop in the state is 25% harvested.

The second leading soybean producing state is Parana where the soybeans are 17% harvested and 23% sold compared to 36% sold last year and 41% average.

The third leading soybean producing state is Rio Grande do Sul where 18% of the soybeans have been sold compared to 30% last year and 31% average. The soybean harvest has not yet begun in Rio Grande do Sul because soybeans are generally planted later in the state than in other areas of Brazil.

Crops in the state of Goias probably suffered the most from dry weather during much of this growing season and as a result, farmers in the state have been relatively reluctant to sell their anticipated soybean production. The farmers in Goias have sold 45% of their soybeans compared to 65% last year and average making the state the slowest compared to average (-20%).