Brazilian G&O Monthly Update – September 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 September remain nearly unchanged from August but are 2.0% above September 2021. 

- In September, corn farmgate prices are 2.0% higher than the previous month. Despite the rise in prices, farmers are still reluctant to add new sales.

- In August 2022, Brazilian soy exports reached 6.1m metric tons, 19% below July 2022 volumes. Brazil soybean exports are expected to reach 76m metric tons in 2022, 10m metric tons less than 2021.

- Accumulated Brazilian corn exports through August totaled 13.5m metric tons, 79% above the previous year. A record ‘safrinha’ corn supply will help Brazilian corn exports reach 42m metric tons in 2022.

- Current weather forecasts indicate favorable rainfall for corn and soybean planting. This might encourage farmers to start planting activities in regions where the sanitary break has ended and planting is allowed.