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Update

Brazilian G&O monthly update – February 2025

20 February 2025 10:54 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

    So far in February, Brazilian soybean farmgate prices have decreased by 3% compared to the previous month. A record Brazilian crop estimated at 170m mt has weighed on prices Corn farmgate prices in January were 3% higher than the previous month. Year-to-date prices are 34% above prior-year levels. A delayed safrinha planting is supporting local prices. In January, Brazilian soybean exports only reached 1.0m metric tons, 46% lower than the previous month. A delay in the soybean harvest limited harvested volumes in early 2025. January corn exports totaled 3.6m metric tons, a 16% drop compared to the previous month. More favorable weather is enabling the soybean harvest and safrinha planting to advance. This scenario is likely to persist during the next 15 days, according to the European Center for Medium-Range Weather Forecasts.

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