Larger acreage in Brazil: more corn and more soybeans

The Brazilian statistics office Conab estimated yesterday that in the coming season in Brazil 133.5 million tons of soybeans will be harvested because the cultivation area has been expanded by 8%.
The weak exchange rate of the Brazilian real and the expectation of good vegetation conditions are causing farmers there to already sell 40% of their expected harvest. That is twice as much as usual.
The next corn harvest in Brazil is estimated at 112.9 million tons. Here the cultivation area was expanded by 7%. The domestic demand for animal feed has increased significantly.
In addition, the statistics office had to admit yesterday that the harvest estimates for the past seven years were not correct. In order to improve the quality of the data and to eradicate the errors of previous years, the figures have all been corrected upwards. For the 2019/20 soybean season, which is coming to an end, 3.57 million tons more soybeans were determined. In the past seven years, a total of 14.4 million tons more agricultural raw materials have been offered from Brazil.

Hansa Terminhandel GmbH
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