Image: Pixabay
Soybean premiums in Brazil have registered constant increases and are approaching the same values as in the United States Gulf in the last two weeks, according to AgResource Brasil Consulting. “The values here are just US$ 0.05 cheaper than the American one for the closest maturities and just US$ 0.02 lower for August”, point out market analysts.
{module Form RD}
For September, highlights the Consultancy, the Brazilian premium is US$ 0.18 higher than that of the North American Gulf. “This happens because Brazil 'flooded' the international market with soybeans in previous months and now there is little oilseed left on the market. However, unlike last year, the United States market (which could be an option for international buyers) is also sold out, with very low stocks”, conclude the experts.
U.S
In the USA, net export sales of soybeans reached 21,700 tons for the old harvest, according to TF Agroeconomic Consulting. The result represents a cooling of 66% in the week, which was within market expectations that ranged from minus 100,000 tons to 350,000 tons, as data from the USDA showed this Thursday (15).
“At the same time, new crop sales reached 290,800 t in the week to 8 July, slightly above the lower limit of market expectations, which ranged from 200,000 t to 600,000 t. US soybean crushing in June fell to a two-year low at 4.15 million tonnes and was well below market expectations, down 8.9% for the year, revealed the National Oilseed Processors Association (NOPA ) on Tuesday”, conclude TF analysts.
By: Leonardo Gottems | agrolink
