Brazil forward sales of 2020/21 soy crop hit 30pc

• The dollar's strength against the Brazilian real is spurring farmers to sell grains earlier, Safras analysts said on a video conference.

SAO PAULO: Brazilian farmers have already pre-sold 30% of their 2020/2021 soy crop, well ahead of the usual levels for this time of year, and forward sales could rise to 50% by the time planting starts in September, consultancy Safras & Mercado said on Friday.

The dollar's strength against the Brazilian real is spurring farmers to sell grains earlier, Safras analysts said on a video conference. In a normal year, only about 30% has been pre-sold by the time the season starts in September, Safras consultant Luiz Fernando Roque said.