Brazilian G&O Monthly Update – January 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.

This month's highlights: 

  • Brazilian soybean farmgate price 3% down MOM, but 9% up YOY
  • Brazilian corn farmgate price 2% up MOM and 19% up YOY
  • Brazilian soybean exports reached 83.6m tonnes in 2018 (Jan-Dec), 23% higher than the record volume exported in 2017. On the other hand, corn exports declined 20% YOY to 23.6m tonnes in 2018
  • Soybean crop condition based on weather evaluation is slightly below the past five seasons’ average for this period of the year. The below-normal rainfall volumes during the second half of December 2018 reduced the yield potentials in producing regions, mainly in Paraná (located in the Southern Region)
  • In most regions, rainfall volumes were below the 30-year average in December 2018. In Paraná state, however, this was the second consecutive month with below-normal rainfall