Go directly to:

Research

Brazilian G&O monthly update – October 2024

22 October 2024 14:32 RaboResearch

Our latest report for Brazilian G&O, detailing farmgate prices, amounts sold, exports, and crush margins for corn and soybeans, as well as regional weather developments.

Rabobank

Highlights

    In October, Brazilian soybean farmgate prices increased by 3% compared to the previous month. Local premiums and the devaluation of the real favored local soybean pricing. Farmgate corn prices in October were 9% higher than the previous month. In line with the behavior of local soybean prices, the devaluation of the real and higher local basis also supported higher corn prices. In September 2024, Brazilian soybean exports reached 6.1m metric tons, 24% lower than the previous month. However, year-to-date exports are 3% higher than the previous year, despite a decrease in production for the 2023/24 season. In September, corn exports totaled 6.4m metric tons, a 6% increase compared to the previous month. Year-to-date exports are down 28% from last year. A smaller Brazilian crop and draft restrictions in the Northern Arc ports reduced Brazilian competitiveness. After a considerable delay in rains, farmers are advancing with soybean planting. Weather forecasts show excellent rains in all soybean-producing regions.

This is an exclusive article

Log in or sign up to request access