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 Friday (02.09) with average soybean prices in Brazilian ports on wheels for export falling 0.18%. As a result, they closed the month at an average of R$ 88.52/bag (88.68 on the previous day) in the spot market.
Thus, the gains from soybeans exported in August were 14,53% (14,74%), according to Cepea. “The dollar fell again by 0.18% this Friday. Not adequately counterbalanced by the increase of just 0.75 cents/bushel in Chicago, but accentuated by the absence of China, which weakened premiums, caused a drop in prices offered by Tradings in Brazilian ports”, explains T&F Consultoria Agroeconomic analyst, Luiz Pacheco.
In the domestic market, although following other factors, there was also a drop of 0.13%, against an increase of 0.27% the previous day at R$ 82.26 (R$ 82.37/bag), with gains for the month of 13.70% (13.85) %. “Soybean sales were strong at the beginning and then slowed down a little this week, with the reduction in premiums, due to the reduction in the crushing margin in China, which depleted demand and reduced premiums in South America by 5 cents/bushel. ”, explains the market expert.
According to Pacheco, the month of August was certainly the one that achieved the “best prices of the entire 2018/19 season to date, allowing farmers to enjoy a net profit, after paying all costs, around 20%”.
Source: agrolink
