Brazilian G&O Monthly Update – November 2021

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 are down 3.8% MOM in November. On a yearly basis, prices are 1% lower than November 2020.

• Brazilian corn farmgate prices in November are 5.1% below the previous month. Although, on a yearly basis, prices are 24% above last November.

• Brazilian corn exports reached 1.8m metric tons in October 2021, 3.2m metric tons below October 2020. Total accumulated exports are 14.6m metric tons, 10.3m metric tons below 2020.

• Brazilian soy exports declined 32% in October 2021, to 3.3m metric tons. At 80.8m metric tons, total accumulated exports since January are 0.6m metric tons below 2020 levels.

• Good volumes of rain allowed soybean planting to advance in Brazil. In Mato Grosso, soybean planting reached 100%, 5% above the historical five-year average.