Brazilian G&O Monthly Update – July 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 2% down MOM due to a decline in the currency rate.

- On the other hand, Brazilian corn farmgate price 1% up MOM, pushed up mainly by increasing international prices (CBOT).

- In 1H 2019 (Jan-Jun), Brazil exported 47.3mmt of soybeans, 8% higher than the volume exported in 1H 2018 and a record for this period.

- Brazilian corn exports reached 9.7mmt in 1H 2019, 86% more than the same period last year and the second-highest in the history for this period (just behind 2016, at 12.3mmt).

- In Mato Grosso, 76% of the second-crop corn area was harvested by mid-July, the fastest pace ever.