Soybean sellers increased their interest in negotiating part of the 2016/17 Brazilian harvest last week, motivated by the appreciation of the dollar against the Real. The pace of completions, however, remains slow compared to previous seasons, due to lower price levels. According to Cepea employees, some sellers remain withdrawn, betting on higher prices throughout the 2016/17 harvest, due to the low volume of rain in areas of Mato Grosso do Sul, a possible drought in the South region in the coming weeks and the unfavorable climate to soybean cultivation in Argentina.
Thus, between November 11th and 18th, the ESALQ/BM&FBovespa Paranaguá soybean indicator, referring to the grain deposited in the export corridor and traded in spot mode (ready delivery), in the port of Paranaguá (PR), fell 1%, closing at R$ 78.09/60 kg bag on Friday, the 18th. The weighted average of soybeans in Paraná, reflected in the CEPEA/ESALQ Indicator, was R$ 74.05/60 kg bag on Friday, a decrease of 2.8% in the period .
Source: Cepea/Esalq
