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Soy price keeps rising

Posted by Rafael Moro

Image: Pixabay

In the state of Rio Grande do Sul, soybean prices rose another R$2.00/sack and around 50 thousand tons were traded, according to information supplied by TF Agroeconomic. “It is understood that small volumes were dominant, but there was so much business in the morning that daily trading must have reached bases of 40,000 to 50,000 tons. A weekday opening day that yielded almost last week's total. Furthermore, many producers remain conservative according to present values, they expect other increases to occur, but without any certainty, stone prices were quoted at R$153.00 CIF Ibirubá, an evolution of R$1.00 in relation to previous prices”, he comments.

In Santa Catarina, movements remained weak, but prices strengthened. “Soybeans from Santa Catarina start to slowly strengthen, at times the main commodity of interest is corn, at times it is soy, depending on who needs it, how much and for when. Bags available for payment at the end of that month appreciated by around R$2.00 and went up to R$172.00. The volumes for September, however, went through basically no difference and now exceed the August values ​​by just R$0.50. Another day with no deals done, the market is waiting for WASDE”, he completes.

Prices rose by R$4/sack in Paraná, with 12 thousand tons having been traded. “In response to the low supply, prices rose again due to intra-regional conditions, considerably including, something around 12,000 tons sold. 2021 Paranaguá Futures: August delivery with 30/09 at R$171.80, prices increased by R$1.00. September with 10/30 was quoted at R$172.20, without considerable variations in relation to the latest indications”, he indicates.

By: Leonardo Gottems | Agrolink

This text was automaticaly translated from Portuguese.