July 5, 2012

Brazil's soy trade reaches 92% of 2011-12 harvest

Based on data collected until June 29, the Brazilian soy producers have negotiated 92% of the harvest 2011-12, according to a survey released by SAFRAS & Mercado.

In the same period last year, the trade involved 71% and the average for the period is 73%. In the previous survey, released on June 1, the figure was 86%. Taking into account an estimated harvest of 66,331 million tonnes, the amount of soy already sold amounts to 60.9 million tonnes.

Sales of the harvest 2012-13 are also being accelerated, reflecting good liquidity in the market buying, attractive prices in national currency and reversed market signalling brought by the CBOT.