According to daily research by Cepea (Center for Advanced Studies in Applied Economics, from USP), soybean prices in the Brazilian physical market closed on Tuesday (25.06) with average soybean prices in Brazilian ports on wheels for export in high of 0.81%, for R$ 82.16/bag. This reduced June's losses to 0.51%, according to the daily survey.
In the interior, the increase was 0.42%, to R$ 76.00, reducing June's losses to 1.47%. “The drop of 0.60% in soybean prices in Chicago was offset by the rise of 0.69% in the dollar plus the average increase of 5 cents in premiums at Brazilian ports this Tuesday, despite the lack of activity in China”, points out the analyst from T&F Consultoria Agroeconomia, Luiz Fernando Pacheco.
Even so, he explains, there was also little sales activity from farmers in Brazil. The market opened at a high of 2 reais/bag “'almost at the point of sale, but sellers decided to wait for it to rise a little more'. They ended up frustrated because an hour after opening the prices reversed and not even the opening levels could be repeated by buyers.”
FUNDAMENTALS
T&F analyst Luiz Fernando Pacheco revealed that he had received a report from abroad with exactly the following statement: “Trade war progress back to zero. No broad trade deal.” In the market expert's view, this fact should increase demand for Brazilian soybeans in the short and medium term.
Post: Marina Carvejani
Author: Leonardo Gottens
Source: agrolink
