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 Monday (16.03) with average prices of soybeans in Brazilian ports on wheels for export rising 1.08% in ports, for an average of R$ 93.18 (compared to R$ 92.18 the previous day). As a result, the accumulated gain in ports increased to 3.86% in the month.
“The new rise in the North American currency, which exceeded R$ 5.00/US$, kept the Brazilian product very competitive and profitable, with prices partially recovering last Friday's losses, according to Cepea research”, points out the T&F Agroeconomic Consulting.
In the interior of the country, the increase was slightly lower, from 0.50%, to R$ 86.32/bag (compared to R$ 85.89/bag the previous day). With this, the accumulated gain in the interior increased to 4.11%.
CHINA
Still according to T&F, Chinese demand was silent despite the improvement in crush margins: “But sellers have pulled back as they expect premiums to be higher in the physical market due to growing concerns around the spread of coronavirus in the Brazil. Four different traders expected Brazilian soybean premiums to rise sharply following Brazilian President Jair Bolsonaro's testing for the virus, which was found to be negative.”
FOB premiums in Brazilian ports increased 7 cents for April, 19 cents for May, decreased 3 cents for June, but increased 5 cents for July and decreased 3 cents for August. The Paper market in Paranaguá was once again very busy, with deals for April at 50K (8 more than the previous day), May at 60K (15 more), June at 60N, June/July at 60N and March 2021 at 25H . CIF premiums for Brazilian soybeans in the Chinese port of Dallian fell 4 cents for April, 3 for May, but rose 12 cents for June and 24 cents for July.
Source: agrolink
