Brazilian soybean price has slight recovery

Posted by Marina

According to the daily survey by Cepea (USP's Center for Advanced Studies in Applied Economics), soybean prices in the Brazilian physical market closed on Tuesday (17.12) with average soybean prices in Brazilian ports on export wheels rising 0.61%, for the average of R $ 87.32 / bag (against R $ 86.79 / bag from the previous business day).

“The small 0.10% rise in the dollar in Brazil, coupled with China's absence, did not offset the 0.51% rise in soybeans in Chicago and again boosted prices offered by buyers on wheels at ports in southern Brazil or its equivalent in other states, ”point out analysts at T&F Agroeconomic Consulting.

In the interior, however, the average price fell 0.01%, to $ 82.51 / bag, against $ 82.76 / bag the previous day. With this, the accumulated of the month reduced the fall to 3.04% in ports and increased to 2.51% inland, according to Cepea survey. Also according to T&F, the market was active in Rio Grande do Sul, but dormant in Paraná.

CHINA

China has returned to buy US soybeans, having bought about 300,000 tonnes from the Pacific ports (PNW), with a 165F CIF premium, after releasing quotas of one million tonnes free of tariffs. In the intermediate paper market in Paranaguá, trades were reported for February at + 55H and March at + 45H.

FOB premiums at Brazilian ports requested by sellers remained unchanged for February at 68H, retreated 16 cent for March to 40H, down 3 cents for April to 44K, up 3 cents for May to 58K, up 1 cent for June to 46N and down 3 cents for July to 56N.




Source: Agrolink