Brazil farmers sell almost 70 m T of soybean crop in advance, Safras & Mercado says

SAO PAULO: Brazilian farmers have sold almost 53% of their 2020/2021 soybean crop, more than twice as much as the 25.4% historical average, as prices are encouraging producers to sell their produce in advance, according to data from Safras & Mercado consultancy.

Considering estimated output of 132.171 million tonnes, Brazilian farmers, who are starting to plant now, have sold an estimated 69.8 million tonnes, Safras said in a statement on Friday.

At the same time last season, farmers had sold 25.8% of the estimated production.