Despite the ongoing harvest in the United States, heated global demand and adverse weather conditions in South America at the start of the season supported grain and soybean meal prices.
According to a survey by Scot Consultoria, in the first fortnight of September, a ton of bran was quoted, on average, at R$1,062.68, without freight, in São Paulo. There was an increase of 0.3% compared to the closing of last August, but the bran is still costing 21.3% less compared to September last year.
For the short and medium term, we have the advance of the soybean harvest in the United States and the increase in crushing as factors reducing the prices of grain and bran on the international market.
However, firm global demand and concerns about the climate in Brazil, from time to time, should continue to counteract the bearish bias.
Source: Agrolink
