Soybean prices on the rise? See bag prices in Brazil

Soybean prices on the rise? See bag prices in Brazil
Soybean prices on the rise? See bag prices in Brazil
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O Brazilian soybean market had a calm Monday (1st). Prices showed volatility and closed mixed.

There was some aggressiveness on the part of the trading companies, looking for available soybeans, but the producers showed no interest.

There were occasional deals recorded on the day. Despite favorable price moments, producers remained withdrawn, wanting higher prices. Margins are tight, so producers hold on, even if prices rise, waiting for better quotes.

Soybean Price on 04/01/2024 (R$/bag):

  • Passo Fundo (RS): 122
  • Missions (RS): 121
  • Port of Rio Grande (RS): 128
  • Cascavel (PR): 118
  • Port of Paranaguá (PR): 126
  • Rondonópolis (MT): 113
  • Dourados (MS): 111
  • Rio Verde (GO): 111

Soy in Chicago

You soybean futures contracts traded on the Chicago Board of Trade (CBOT) closed Monday with lower prices. The market was once again impacted by the bearish fundamental scenario.

The tendency for Chinese demand to shift to the Brazilian market is increasing. With lower demand for the United States product, contracts decline.

The market also absorbed USDA planting intention data, released last Thursday, which indicated higher-than-expected sowing.

North American soybean export inspections reached 414,484 tons in the week ending March 28, according to a weekly report released by the United States Department of Agriculture (USDA).

In the previous week, soybean export inspections had reached 785,116 tons.

In the same period last year, the total inspected was 503,900 tons. In the crop year, which began on September 1st, inspections totaled 36,981,053 tons, compared to 45,460,554 tons in the previous crop year.

Soybean grain contracts for delivery in May closed down 5.75 cents, or 0.48%, at US$ 11.85 3/4 per bushel.

The July position was quoted at US$11.99 1/2 per bushel, with a loss of 5.75 cents or 0.47%.

In by-products, the May bran position closed down US$4.30 or 1.27% at US$333.40 per ton.

In oil, contracts expiring in May closed at 48.24 cents on the dollar, an increase of 0.29 cents or 0.60%.

Exchange

The commercial dollar ended the session up 0.88%, trading at R$5.0586 for sale and R$5.0566 for purchase.

During the day, the North American currency fluctuated between a minimum of R$5.0095 and a maximum of R$5.0703.

The article is in Portuguese

Brazil

Tags: Soybean prices rise bag prices Brazil

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