Brazil's soybean pre-sales come in drive

Brazil's soybean farmers have spurred their pre-sales for the next harvest in November, because the currency has developed to the benefit of exporters. The known quantities are smaller than today in the same period in the previous year, so the assessment of the consulting firm Agencia rural told the press.
The farmers have 34% of the harvest 2016/17 now booking. The harvest will start in January. Last year, 44% were pre-sold to this date, the five year average was 40%.
The business with the preliminary increased in November after months of supply restraint. After the prices dropped since June, the market price for soybeans on the CBoT rose again over the $ 10 mark, at the same time, the price of the real against the U.S. dollar on 3.4, which gave a boost to advance fell.
In October, the exchange rate still at 3.11 was, In November it stood at 3.4, as the outcome of the presidential election in the United States was clear and well maintained on an interest rate hike in the United States.
Sales of soy beans in Center-West, the Centre of Brazilian soy bean cultivation, were last at 44% of the expected harvest, last year there were 50% to this appointment. In the South, the largest cultivation region 19% were pre-sold, compared with 32% in the previous year.

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