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The increase in export premiums, exchange rate appreciation, low stocks in Brazilian industries and firm domestic demand have boosted soybean prices in the Brazilian market in recent days. Furthermore, most domestic producers have already capitalized and are now withdrawn from selling large lots – agents consulted by Cepea indicate that some soybean farmers prefer to store the remainder of the 2019/20 harvest and sell them from September onwards.
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According to the Cepea newsletter, on Thursday the 22nd, domestic values fell again, pressured by the external devaluation of the oilseed, which is linked to lower international demand, mainly from China. As a result, the ESALQ/BM&FBovespa – Paranaguá Indicator had an average of R$ 169.07/sc of 60 kg on the 23rd, a slight drop of 0.7% compared to the 16th, but an increase of 6.9% in the month. The CEPEA/ESALQ Paraná Indicator fell slightly by 0.5% in the week, but rose by 7.1% in the month, to R$ 164.31/sc of 60 kg on the 23rd. The dollar appreciated by 1.89% between the 16th and 23rd of July and 4.9% for the month, going to R$ 5.217 on Friday the 23rd.
By: Aline Merladete | agrolink
