Advance sales of Brazil’s record 2022-23 soybean crop rose slightly over the past month but still trail last year and historical levels by a wide margin, according to data from Safras & Mercado. The firm said forward sales of Brazil’s soybean crop reached 46.72 MMT – 30.5% of the estimated record 153.5 MMT production. The slow harvest pace and farmers’ hopes to get better prices for their beans limited forward sales.
Last year at this time, farmers had sold 44.1% of their expected crop, while the five-year average is 44.8%.
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