According to the daily survey by Cepea (Center for Advanced Studies in Applied Economics, from USP), soybean prices in the Brazilian physical market closed on Tuesday (28.07) with average soybean prices in Brazilian ports on wheels for export falling 0.16% at the ports, for R$ 117.09/bag (compared to R$ 117.28/bag the previous day). As a result, the accumulated gain in ports this month was 1.53%.
According to ARC Mercosul Consulting, in Brazil, soybean export premiums continue to support domestic oilseed prices. “This trend is expected to last throughout the second half of 2020, mainly with tight stocks compared to soybean shipments at 40% above 2019”, conclude ARC Mercosul analysts.
T&F Consultoria Agroeconomic points out that, in Rio Grande do Sul, the price remained at R$ 121 at the port, but dropped fifty cents/bag in the interior: “The total predominance of industries over the price of soybeans in Rio Grande do Sul continues, due to to the lack of product in the state. For the available market, the price remained unchanged in the Rio Grande do Sul port. In Paraná, the price of soybeans rose by 10.00/bag for the farmer”.
CHINA
Also according to T&F Consultoria Agroeconomic, commercial and industrial houses continued to contract new Brazilian soybean crops in 2021. “A February 2021 Brazilian soybean shipment traded at 162-164 c/bu over March futures on CFR China. And an April/May shipment from Brazil changed hands at 126 c/bu on May futures,” T&F analysts conclude.
Source: agrolink
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