Brazilian G&O Monthly Update: November 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.
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- Brazilian soybean farmgate price is up 2% MOM and up 7% YOY
- Brazilian corn farmgate price is up 11% MOM and up 32% YOY
- 44% of the projected second corn crop production in 2020 has been sold in Mato Grosso, 11pp above last year and 16pp above the five-year average for this period of the year.
- Brazilian corn exports reached 36.3mmt in 2019 (Jan-Oct), 24% above the previous record of 29.3mmt reached in 2017 (Jan-Dec).
- Based on weather evaluation, soybean crop conditions for this period of the year align with the past five years. The situation in Paraná (Londrina and Cascavel) requires monitoring, given the lower volume of rainfall in comparison to previous years.
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Victor IkedaSenior Analyst - Grains & Oilseeds Read more