According to the daily survey by Cepea (Center for Advanced Studies in Applied Economics, USP), soybean prices in the Brazilian physical market closed Friday (14.06) with average soybean prices at Brazilian ports on wheels rising 1.15%, to R$ 82.73. This brought prices into positive territory for the first time in June, to 0.18%.
According to T&F Consultoria Agroeconômica, prices rose more in the interior, due to the many sales of more than 1.0 million tons (MT) of bran for export. In view of this, prices rose 1.32%, to R$ 77.67/bag, bringing prices into positive territory at 0.70% compared to the end of May.
“After sharp declines in the first two weeks of June, soybean prices have recovered and are now above May prices by 0.18% at Brazilian ports and 0.70% in the interior of the country. The recovery in Chicago prices, in the wake of weather problems with the American harvest, the 0.56% rise in the dollar in Brazil this week and the relatively good demand from China, which bought around 10 cargoes of grains and around 1.0 MT of bran this week, provided some support to prices,” comments T&F analyst Luiz Fernando Pacheco.
According to this expert, prices are firmer, but still not at the levels desired by farmers, who have withdrawn: “When prices rise, farmers let them rise and leave the market, we all know this, although it is a mistake (it is changing, which is good). With June prices exceeding May prices, we are not seeing as many price fixations as would be expected. They are occurring more with the crushing industries than in the export business, due to the large volume of bran negotiated this week for export”.
Post: Marina Carvejani
Author: Leonardo Gottems
Source: agrolink
