The price of soybeans ended March on a high in Brazil. Improvement in export premiums, exchange rate variation and the current situation of the Brazilian harvest – with productivity drops in several regions and producers restricting sales – are listed by analysts as among the main factors for the increase in prices.
The indicator from the Center for Advanced Studies in Applied Economics (Cepea), based on the Paranaguá export corridor, reached R$ 124.04 per 60-kilo bag, an increase of 7.44% in the month. The reference for the physical market in Paraná, also from Cepea, rose 8.05% in the period and ended March at R$119.61 per bag.
In Mato Grosso, the state average was R$104.42 per 60-kilo bag, according to a survey by the State Agricultural Economics Institute (Imea).
Prices in Brazil also followed the appreciation of soybeans on the international market throughout this month, with prices returning to around US$12 a bushel in some sessions on the Chicago stock exchange.
On Thursday (28/3), the main contracts remained practically stable, after the market considered data from the United States Department of Agriculture (USDA) regarding the planting intention of the American crop as expected.
The contract for May 2024 fell 0.08% and closed at US$11.91 per bushel. July maturity fell 0.1% to US$12.05 a bushel. In March, the price rose 5.65%, according to a survey by Valor Data, based on the second position on the stock exchange panel (currently, July 2024).
In this scenario, a bag of soybeans ended March worth R$ 109.37 in Luis Eduardo Magalhães, in western Bahia, reports Scot Consultoria. In Rio Verde (GO), a bag priced at R$110, the same price as in the Triângulo Mineiro region. In Dourados (MS), soybeans were worth R$111 on Thursday (28/3); in Sorriso (MT), R$106.
At port terminals, a bag of soybeans was worth R$126 in Santos (SP) and R$125 in Rio Grande (RS), according to Scot. The scenario is still one of negative export premiums, although these discounts are lower than in previous periods.
According to Sim Consult, the discount for May is US$0.39 on the exchange price. For July, US$0.07.
