Down hill? Soy continues to fall in RS

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“In Paranaguá there were only quotes for the futures market”

Soybean prices continue to decline in Rio Grande do Sul, according to what TF Agroeconomic reported. This time, there were, on average, another 1.33% at the beginning of the week. “In the futures market, the price also followed the fall of the dollar and dropped R$ 2.00/bag to R$ 145.00, for delivery and payment in May 2021, in the Rio Grande do Sul port”, he comments.

“This value would represent something around R$ 139.00/bag in the interior lots market and something like R$ 130.00 for the farmer. Even so, this last value would have included around 47.72% of profit for the soybean producer, something very significant. Our recommendation would be to sell another batch, in addition to the 50% that have already been sold. There is, however, fear about the drought that is ravaging the west of the state and, with it, concern about the size of production for 2021”, he adds.

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In Paraná, the main fact at the beginning of the week was the price for May 2021, which is quoted at R$ 138.00 in Ponta Grossa. “The market continues to lack business for the old harvest, all market agents focus on selling the new harvest. There are only quotes for the 2020/21 and 2021/22 harvests: For new harvest, Ferrovia station, in Maringá, for delivery by 03/20 with payment 04/15/21 R$ 140.20”, he indicates.

“In Paranaguá there were only quotes for the futures market: for 2021, delivery by 20/03 with payment 15/04/21 R$ 146.10; April delivery with payment 04/30/21 R$ 145.00; delivery in May with payment 05/30/21 R$ 145.20; June delivery with payment 06/30/21 R$ 146.00 and July delivery with payment 07/30/21 R$ 147.10. For 2022, delivery in February with payment on 03/30/22 R$ 127.10 and delivery in March with payment on 04/30/22 R$ 127.10”, he concludes.

By Leonardo Gottems | AGROLINK

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