According to the daily survey by Cepea (Center for Advanced Studies in Applied Economics, USP), soybean prices in the Brazilian physical market closed on Monday (03.06) with average soybean prices at Brazilian ports on wheels falling 0.87%, to R$ 81.86/bag. In the interior, the drop was greater, of 1.12%, to an average of R$ 76.27/bag.
According to T&F Consultoria Agroeconômica, the main factor was the sharp drop of 0.90% in the Dollar, which fell below R$ 3.90 for the first time in more than 4 weeks. This more than surpassed the slight rise in Chicago, of just 0.14%, and the small increase in premiums in the closest months (2 cents for June, 8 for July, 14 for August, those for the 2020 harvest remained unchanged).
According to T&F analyst Luiz Fernando Pacheco, the main facts of the international physical soybean market were the following: “With the fall of the real, farmers’ sales were weak this Monday; Even so, one position (around 60-66 thousand tons) FOB July was negotiated with a premium of +117 cents; In the Paper market, in Paranaguá, July was negotiated with premiums of +107 and +109, this Monday; In China, the premiums for soybeans arriving in the country were around 5 cents firmer”.
EXPORTS
With 12.427 million tons sold abroad in May, Brazilian exports of the soybean complex totaled US$1.4T4T. This represented a drop of 12.1% in volume and 24.2% in revenue compared to the same period in 2018. Compared to April, the volume increased by 6.6% and revenue by 5.2%, according to data released by the Foreign Trade Secretariat (Secex) of the Ministry of Economy.
