The day of calm waiting for the United States climate to be defined ended up causing soybean prices in Brazil to record a new decline, this time by 0.06%. This is what the expert, Luiz Fernando Pacheco, who is an analyst at T&F Consultoria Agroeconomic, reported.
“The day was calm, in anticipation of what could happen with the weather in the USA and with the reports that the USDA will release next Friday, on the soybean planted area in the country and stocks on June 1st. There is also expectation about what could happen at the G20 meeting, between Presidents Trump and Xi, China and other countries with which it has trade disputes. These are all factors that could change (or not) the direction of the soybean market, so it’s best to wait”, he comments.
However, after opening high, soybean prices in Chicago fell sharply by around 1.02%. “As the dollar also fell by 0.16% in Brazil and premiums remained basically unchanged (they rose by just 2 cents in August), the average prices that could be offered by buyers on wheels in Brazilian ports also fell by 0.06% to R$ 82.11/bag , slightly increasing June losses to 0.57%. Also in the interior, prices fell by 0.28% to R$ 75.79, due to the decline in prices and premiums for bran and oil for export”, completes the information.
“The Paper market in Paranaguá traded in August at +106. The CIF ports market in China traded 5 lots of Brazilian soybeans and 2 lots of American soybeans, at premiums of +187 July, +195 August and +187 September for the Brazilian product and +144 for the American product”, he concludes.
Post: Marina Carvejani
Author: Leonardo Gottens
Source: agrolink
