Soybean prices remain high and with positive premiums at ports | Quotes

The price of soybeans remains high in the Brazilian market, under the influence of prices on the Chicago Stock Exchange and changes in the exchange rate. On Tuesday (23/4), the rise in the stock market had more weight than the devaluation of the dollar and the real, which helped to sustain references in the country’s various producing regions.

The indicator from the Center for Advanced Studies in Applied Economics (Cepea) rose 0.44% compared to the previous day and reached R$127.84 per 60-kilo bag, based in Paranaguá (PR). In April, the reference accumulated an increase of 3.06%. The institution’s indicator based on business in the available market in Paraná increased by 0.34% in the daily comparison, to R$ 124.15 per bag, an increase of 3.8% in the partial month.

“The joint appreciation of CBOT overlapping the fall of the dollar raises the business reference for the oilseed”, informs consultancy Agrifatto.

On Tuesday, soybeans for July rose 0.47% and closed at US$ 11.82 a bushel in Chicago. On the same day, the dollar had a global devaluation movement that was reflected in the exchange rate in Brazil. The American currency fell 0.74%, quoted at R$5.13. “The soybean market is experiencing positive seasonality, justifying increases. It’s something to pay attention to”, says Matheus Pereira, director of the consultancy Pátria AgroNegócios.

He adds that demand for Brazilian soybeans is firmer, which helps to increase not only the price of the grain, but also export premiums, which have been recovering. “We are optimistic about prizes in Brazil. Demand is aggressive and is encouraging a recovery. And most producers tend to retain product and create a need for the buyer to pay more,” he explains.

According to Sim Consult, the difference for July in Brazilian ports is positive at US$ 0.19 per bushel in relation to the contract of the same maturity on the Chicago stock exchange. For August, the premium is US$0.36 over the stock price.

The CEO of Sim Consult, João Birkhan, explains that, with the lows seen in Chicago previously, the producer withheld the supply of soybeans. With the reduction in volumes available at ports, buyers found it necessary to increase differentials. “The offers stopped and the prize started to recover”, he says, in a video released online.