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Exports to support domestic soy in Brazil

Posted by Marina

According to the daily survey by Cepea (Center for Advanced Studies in Applied Economics, USP), soybean prices in the Brazilian physical market closed Tuesday (28.07) with average soybean prices in Brazilian ports on wheels for export falling 0.16% in ports, to R $ 117.09 / bag (against R $ 117.28 / bag the previous day). Thus, the accumulated gain in ports this month was 1.53%.

According to the ARC Mercosul Consultancy, soy export premiums in Brazil continue to support domestic oilseed prices. "This trend is expected to continue throughout the second half of 2020, especially with tight inventories in the face of soybean shipments at 40% above 2019", conclude ARC Mercosul analysts.

T&F Consultoria Agroecômica points out that, in Rio Grande do Sul, the price remained at R $ 121 in the port, but it dropped fifty cents / bag in the interior: “The total prevalence of industries continues to be the price of soy in Rio Grande do Sul, due to the lack of product in the state. For the available market, the price remained unchanged at the Rio Grande do Sul port. In Paraná, the price of soy rose by 10.00 / bag for the farmer ”.

CHINA

Also according to T&F Consultoria Agroecômica, commercial and industrial houses continued to contract 2021 new Brazilian soybean crops. “A shipment of Brazilian soybeans in February 2021 traded at 162-164 c / bu on March futures at CFR China. And an April / May shipment from Brazil changed hands by 126 c / bu on May futures ”, conclude T&F analysts.


Source: Agrolink

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