Brazilian G&O Monthly Update – May 2019

Our latest progress report for Brazilian G&O, detailing farmgate prices, amounts sold, exports and crush margins for corn & soybeans, as well as regional weather developments.

Highlights

- Brazilian soybean farmgate price 5% down MOM and 12% down YOY

- 72% of the 2018/19 soybean crop is sold in Mato Grosso. In Paraná, this percentage reached 44%. These values are, respectively, 5pp and 3pp below the five-year average for this month in these states 

- In April 2019, Brazil exported 10.1m metric tons of soybeans – 2% lower than the volume exported in April 2018. The total amount exported in 2019 (Jan-Apr), however, is 27.3m metric tons –16% higher than in this period in 2018

- Second crop corn conditions, based on weather evaluations, are at levels above the five-year average in most of the producing regions, supporting the outlook for a record second crop corn production in Brazil in this season

  • Victor Ikeda

    Senior Analyst - Grains & Oilseeds
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  • Fernando Gomes

    Commodity Analyst
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