The US magazine “Successful Farming” quoted report of Reuters on Aug.26 that although the Brazilian soybeans in the new season have not started sowing yet, the favorable soybean price in international market is speeding up presale of soybeans. At present, about half of new season soybeans have been sold. Under that impact, the soybean planting field area participating in agricultural insurance during 2020-2021 is expected to realize 10 million ha. for the first time, soaring compared to that in 2019-2020. In year 2020-2021, the estimated soybean sowing area in Brazil is 37.86 million ha..

Officials of Ministry of Agriculture, Brazil said the insured area of new season soybean is expected to increase 150% in view of insurance contract implementation situations last year and soybean production trend in this year.