Farmers in Brazil are in the final stages of planting a potentially record large 2013/14 soybean crop, but they have been slow sellers of their anticipated production. Nationwide, less than 40% of the next crop has been sold, which is about 20% less than last year. In the state of Mato Grosso, which is the largest producing state, approximately 45% has been sold compared to 65% last year at this time. Falling soybean prices is the reason for the slow sales.
Disclaimer: This information was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts.
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