Soybean prices ended the week falling, according to information released by the International Center for Economic Analysis and Agricultural Market Studies (CEEMA) in its weekly report. “In Brazil, with the exchange rate devaluing to R$ 5.05 during the week, soybean prices also fell,” he stated.
According to the report, in Rio Grande do Sul, there were variations in prices in different places in the state. “The Gaucho average closed the week at R$ 135.90 per bag, while in some markets in the state, prices were below R$ 130.00, reaching R$ 129.00 per bag”, he commented.
Across the country, values fluctuated. “In other Brazilian regions, prices ranged between R$ 113.00 and R$ 124.00 per bag,” he continued.
Regarding the planting of the new crop in Brazil, the CEEMA report highlighted the impact of rain on planting. “By October 5th, the planting of the new crop of soy in Brazil it reached 10.1% of the expected area. The process was slowed down in some regions, such as Paraná, due to excessive rainfall, while in other regions, such as Mato Grosso, drought has been a challenge”, he informed.
“This summary highlights recent fluctuations in the soybean market. Therefore, it offers a comprehensive view of current conditions affecting production and prices. This applies to both the USA and Brazil. It also addresses the dynamics of Chinese imports.”
Source: Seane Lennon | agrolink
