Derivative Financial Instruments

12 Months Ended

Jun. 30, 2026

Derivative Financial Instruments [Abstract]

7. Derivative financial instruments

	2026
	Consolidated
	Book Value								Volume / Position
Derivative instruments	Long		Short			Net			Long		Short			Net			Unit
NDF		9,072		(1,028	)		8,044			1,918		(47,492	)		(45,574	)		US$
USD – Structured products		1,058		(385	)		673			-		(8,800	)		(8,800	)		US$
Soybean – Call Options		-		(1,575	)		(1,575	)		-		(362,857	)		(362,857	)		bags
Soybean - Futures		2,636		(1,525	)		1,111			666,750		(2,420,937	)		(1,754,187	)		bags
Soybean – Structured products		92		-			92			-		(83,911	)		(83,911	)		bags
Corn - Futures		922		-			922			-		(212,947	)		(212,947	)		bags
Corn – Structured products		342		-			342			-		(587,373	)		(587,373	)		bags
Cotton – Call Options		-		(179	)		(179	)		-		(2,150,000	)		(2,150,000	)		lbs.
Cotton – Put Options		140		-			140			2,150,000		-			2,150,000			lbs.
Cotton - Futures		380		(2,033	)		(1,653	)		2,150,000		(7,400,000	)		(5,250,000	)		lbs.
Fed cattle - Futures		-		-			-			-		(31,680	)		(31,680	)		@
Ethanol – Call Options		-		(1,826	)		(1,826	)		-		(6,600	)		(6,600	)		m^3
Ethanol - Futures		7		(247	)		(240	)		-		(16,200	)		(16,200	)		m^3
TRS - Future		903		-			903			-		(6,000,000	)		(6,000,000	)		kg
Swap		20,561		(19,048	)		1,513			415,433		(415,433	)		-			R$
Margin deposited		173		(1,228	)		(1,055	)		-		-			-			-
Total Risks - Derivatives		36,286		(29,074	)		7,212

Total - Current		15,163		(9,456	)
Total – non-current		21,123		(19,618	)

Results on June 30, 2026 (Note 26)
Realized		103,247		(90,008	)
Unrealized		30,861		(29,623	)
		134,108		(119,631	)

	2025
	Consolidated
	Book Value								Volume / Position
Derivative instruments	Long		Short			Net			Long		Short			Net			Unit
Options		652		(720	)		(68	)		3,800		(7,600	)		(3,800	)		US$
NDF		17,692		(1,565	)		16,127			-		(74,615	)		(74,615	)		US$
Soybean - Futures		1,224		(1,906	)		(682	)		1,463,970		(2,829,650	)		(1,365,680	)		bags
Soybean - Structured products		-		(810	)		(810	)		-		(560,161	)		(560,161	)		bags
Basis - Futures		-		(876	)		(876	)		-		(233,589	)		(233,589	)		bags
Corn - Put Options		3,623		-			3,623			216,354		-			216,354			bags
Corn - Futures		3,978		-			3,978			-		(607,050	)		(607,050	)		bags
Corn - Structured products		591		-			591			-		(88,446	)		(88,446	)		bags
Cotton - Structured products		1,050		-			1,050			-		(10,330,050	)		(10,330,050	)		lbs.
Cotton - Call Options		-		(11	)		(11	)		-		(6,350,000	)		(6,350,000	)		lbs.
Cotton - Futures		2,293		(141	)		2,152			-		(10,922,350	)		(10,922,350	)		lbs.
Fattened cattle - Futures		23		-			23			-		(1,650	)		(1,650	)		@
Ethanol - Futures		4		(7,181	)		(7,177	)		-		(58,800	)		(58,800	)		M^3
TRS - Future		526		(512	)		14			-		(30,336,000	)		(30,336,000	)		kg
Swap		8,496		(19,402	)		(10,906	)		531,741,790		(531,741,790	)		-			R$
Margin deposited		430		-			430			-		-			-			-
Total Risks - Derivatives		40,582		(33,124	)		7,458

Total - Current		29,609		(15,492	)
Total - non-current		10,973		(17,632	)

Results on June 30, 2025 (Note 26)
Realized		69,737		(112,456	)
Unrealized		110,798		(47,080	)

Derivatives by maturity:

Maturity	6/30/2026			6/30/2025
2025		-			8,836
2026		6,073			7,485
2027		(1,221	)		(1,559	)
2028		20,426			8,450
2029		(649	)
2030		(17,417	)		(15,754	)
		7,212			7,458

The Company uses derivative financial instruments such as forward currency contracts and forward commodities contracts to hedge against currency risk and commodities prices, respectively.

The margin deposits in Derivative operations are counterparty margins in operations with derivative instruments.

The total fair value of a derivative is classified as non-current assets or liabilities if the remaining maturity of the derivative is over one year, and as current assets or liabilities if the remaining maturity of the derivative is less than one year.