Brazilian G&O Monthly Update – December 2020
Our latest report for Brazilian G&O, detailing farmgate prices, amounts sold, exports, and crush margins for corn & soybeans, as well as regional weather developments.
Download the full report
• Brazilian soybean farmgate prices are 8% down MOM, but 89% up YOY – the currency rate has been, on average, at BRL 5.13/USD in the first half of December 2020 (vs. BRL 5.50/USD in the same period last month).
• Brazilian corn farmgate prices are 3% down MOM and 87% up YOY – tight local stocks, a result of strong (local and external) demand throughout 2020, have been trending upward despite the drop in corn prices last month.
• Brazilian soybean exports reached 1.5mmt in November 2020, a volume 71% lower than the same period last year.
• Brazilian corn exports reached 4.9mmt in November 2020. This volume is 18% higher than the same period in 2019. This was also the highest volume for this month since 2014.
• In almost all the regions analyzed, the volume of precipitation in the current harvest is below the previous two years, which merits attention due to the possible impacts on crop yields and output.
Where to go from here
Wagner YanaguizawaAnalyst - Animal Protein Read more