A Purdue University Center for Commercial Agriculture study published October 30 compared soybean production costs on nine typical farms, four in Brazil (Mato Grosso and Paraná) and five in the US, mostly using 2020-2024 data. Average total cost was $416 per acre in Brazil versus $616 in the US, with Brazil spending more on fertilizer ($85 vs $57 per acre) and crop protection ($81 vs $56), while land-related fixed costs were far lower in Brazil ($97 vs $251 per acre).
Brazil's lower total production cost supports its competitiveness in soybean exports, which can cap global soybean and meal prices over time. Higher Brazilian input costs, however, show how fertilizer price swings can squeeze farm margins there.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.