Fixed volume of future soybean exports is 10% lower than in recent years

Brazilian soybean exporters are in no hurry to fix contracts for the next harvest. At the end of June, there is a 10% difference from what would it would have traded for in the past.

According to analyst Vlamir Brandalizze, 35% of what was sold at the same time in 2020, is today at 25%.

This is in proportion, for example, to the approximately 86 million tons that the USDA estimates will be exported by Brazil. The forecast for the harvest is 144 million tons.

The reason for this “delay” is not so much in the prices for future delivery, which he observes between R$148 and R$150 per bag.

“The exchange ratio for the producer was advantageous, as he needed less soy to buy inputs,” explains Brandalizze, who, in April, also saw a lower volume traded in advance as well.

Source: Money Times

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Volume fixado de exportações da soja futura está 10% menor que nos outros anos – Money Times

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