Soybean and derivative prices fell, according to Cepea
Soybean prices fell in the Brazilian market last week. According to Cepea researchers, the pressure came from weakening external and domestic demand and also from the devaluation of the dollar against the real. With the fall in soybean prices, the prices of derivatives also recovered.
According to the analysis of the previous week, “The lower-than-expected rainfall in the South and Midwest regions of the country has worried soybean farmers about the development of their crops. Some producers in Rio Grande do Sul and Santa Catarina have even slowed down the sowing of the oilseed, with no idea of looking at more moisture alone.”.
At the same time, a large part of the domestic consumers consulted by Cepea indicated that they were supplied for the rest of the year, while a smaller portion acquired small batches, just to complete stocks.
See the production cost of soybeans for the 2023/24 harvest, click here.
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By Daniele Balieiro with information from Cepea
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