Brazilian G&O Monthly Update – January 2022

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.

Highlights

• Brazilian soybean farmgate prices in January are up 4.9% MOM. On a yearly basis, prices are 7% above January 2021.

• Brazilian corn farmgate prices in January rose 3.0% above the previous month. On a yearly basis, prices are 24% above last January.

• Brazilian corn exports reached 3.4m metric tons in December 2021, 1.0m metric tons above November 2021. Total accumulated exports are 20.4m metric tons, 12.8m metric tons below 2020.

• Brazilian soy exports increased 5% in December 2021, to 2.7m metric tons. Total accumulated exports since January achieved a new record of 86.1m metric tons.

• Meanwhile, in the Center-West and MATOPIBA regions, rainfall is above average, favoring soybean conditions. In the south of Brazil, crops are suffering from low rainfall and high temperatures, in line with La Ninã characteristics. The soybean harvest and safrinha planting are advancing in Mato Grosso.