Difference between prices makes it difficult to sell soybeans

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Uncertainties regarding national soybean production, expectations of greater demand and the recent exchange rate devaluation (US$/R$) have widened the disparity between prices asked and offered for the oilseed, limiting liquidity in the Brazilian market. On the one hand, producers, especially those in the South region, report large losses in production due to water scarcity in the main period of crop development. On the other hand, agents consulted by Cepea point out that production in other regions of Brazil should be voluminous, compensating for a large part of the losses in the South.

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According to data from the Cepea newsletter, agents also indicate the possibility of greater domestic and international demands this season, which has made producers reluctant to negotiate the remainder of the 20/21 harvest and also forward contracts for the 21/22 harvest. Consumers have also been cautious in recent days, given the devaluation of the dollar and the expectation of the arrival of the new harvest. In the national spot, the CEPEA/ESALQ Paraná Indicator rose 1.5% between January 14th and 21st, at R$ 177.33/sc of 60 kg on Friday, 21st. The ESALQ/BM&FBovespa Paranaguá Indicator (PR) registered an increase of 2%, in the same comparison, R$ 180.15/sc of 60 kg on the 21st. Among Brazilian regions, however, prices registered different directions. The dollar registered a drop of 1.17% between the last two Fridays, R$ 5.457 on the 21st.

By: Aline Merladete | agrolink