Soy: Anticipated sales up in Mato Grosso

Anticipated sales of soybeans in Brazil's central-western state of Mato Grosso increased to 59pc of the expected output by the end of December, up by 8 percentage points in comparison to November.

Farmers have just started the harvest of the current season in Mato Grosso, Brazil's top producer of grains. The soybean production is estimated at 33mn t, with nearly 19.5mn t already hedged, according to the local Institute of Agricultural Economics (Imea).

By this time last cycle, 47pc of the 2018-19 soybean production had been sold in advance.

Only 2pc of the 10mn ha planted with the oilseed this season in Mato Grosso have been harvested, Imea said. Soybean harvest in the state usually takes place until early April.

Concerning corn, which will be planted after the oilseed gets removed from the field, Mato Grosso farmers have hedged 57pc of the 32mn t expected this year. The so-called "safrinha" has its harvest in the middle of the year in the state.

A year ago, the anticipated sales totaled 41pc of the 2018-19 corn crop in Mato Grosso, according to Imea.

By José Roberto Gomes