China's absence causes soy prices to fall 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 on Friday (13.09) with average soybean prices in Brazilian ports on export wheels retreating 0.81%. This led to a national average of R $ 85.39 / bag, compared to R $ 86.09 / bag the previous day.

Thus, the cumulative export price in September increased the loss to 3.54%, from 2.75% the previous day. “The only 0.17 %% hike in soybean prices in Chicago, coupled with the 0.69% hike in the dollar in Brazil on Friday, plus China's continued absence, which caused the premiums to fall, triggered again fall in soybean prices in Brazil. As a result, the average prices that buyers were able to offer on wheels in Brazilian ports dropped, ”explains T&F Agroeconomic Consulting analyst Luiz Pacheco.

According to Cepea Indicator, in the physical market prices reached R $ 84.00 / bag, against R $ 85.00 / bag the previous day in Paranaguá. In Rio Grande it hit R $ 85.00 / bag, against R $ 85.30 / bag the previous day, points out T&F Agroeconomic Consulting.

In the domestic market, the price rose, but slightly, only 0.01% to the average of $ 79.77 / bag, against $ 79.76 / bag the previous day. As a result, September's accumulated inland reduced losses to 3.03% (3.04%). In the domestic physical market, the price in Passo Fundo fell to R $ 81.00 / bag, against R $ 82.00 / bag from the previous day. In Ponta Grossa the price closed the week at R $ 82,00 and in Cascavel, R $ 80,50.

Source: Agrolink