The lack of grain storage is a chronic problem in Brazil, especially in the top production state of Mato Grosso. The Mato Grosso Institute of Agricultural Economics (Imea) estimates the state’s storage deficit could reach 64 MMT this year given leftover supplies from 2021-22, this year’s record soybean production and anticipated hefty safrinha corn crop. Crop consultant Dr. Michael Cordonnier says slow farmer selling will complicate matters. He notes farmer selling of the soybean crop is 8% behind year-ago and forward contracting of the safrinha corn crop is running 20% behind last year.
Lack of Grain Storage is a Chronic Problem in Brazil
Mato Grosso grain storage deficit could reach 64 MMT...
(Lindsey Pound)