Update

Brazilian G&O monthly update – September 2025

30 September 2025 12:13 RaboResearch

Our latest report for Brazilian G&O, detailing farmgate prices, amounts sold, exports, and crush margins for corn and soybeans, as well as regional weather developments.

Rabobank

Highlights

    In September, Brazilian soybean farmgate prices increased by 1% compared to the previous month. A strong soybean basis at ports is supporting soybean prices, largely driven by Chinese demand. Farmgate corn prices rose by 4% in September compared to the previous month. Strong domestic demand for feed and corn-based ethanol is contributing to higher local corn prices. In August 2025, Brazilian soybean exports reached 9.3m metric tons, 24% lower than the previous month. However, year-to-date exports are 4% higher than during the same period last year. RaboResearch estimates Brazilian soybean exports will reach 110m metric tons for the 2024/25 season. Corn exports totaled 6.8m metric tons in August 2025, up 181% from the previous month. Year-to-date corn exports are 12% below last year’s level. Rainfall is expected over the next 15 days, which could encourage farmers to move forward with summer crop plantings, including corn and soybeans.

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