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September 13, 2018

Farmers in Mato Grosso renew Tepid Grain Sales

Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.

Mato Grosso Soybeans - The Mato Grosso Institute of Agricultural Economics (Imea) reported that sales of the 2017/18 soybean crop in Mato Grosso reached 93% at the end of August. Old crop soybean sales during August increased 3.4% and the average selling price during August was R$ 72.26 per sack (approximately $8.10 per bushel) which was up 2.6% from July.

For the 2018/19 soybean crop, sales during August increased 6.6% with the total reaching 28%. The average selling price during August was R$ 67.44 per sack (approximately $7.55 per bushel), which was up 3.7% from July.

Mato Grosso Corn - Selling of the 2017/18 corn crop in Mato Grosso advanced 6.3% during August to reach a total of 81% complete. The average selling price during August was R$ 23.86 per sack (approximately $2.67 per bushel). Strong domestic demand for corn in other Brazilian states was the main driving factor for sales.

After two months of virtually no sales activity at all, selling of the 2018/19 corn crop picked up during the month of August. For the 2018/19 corn crop, sales during August advanced 9.8% to 24% of the anticipated corn production. The average selling price during August was R$ 22.49 per sack (approximately $2.52 per bushel). Export demand and a favorable currency are propelling corn sales.