Brazil's Soybean Prices Declined by 12.85% YoY in W3 Amid Favorable Growing Conditions

Soybean

Brazil

Market & Price Trends

Published Jan 19, 2024

Brazil's soybean prices dropped by 12.85% YoY to USD 0.51/kg in W3 due to favorable weather conditions. Additionally, robust shipments of Brazilian soybeans to China signaled strong competition for US soybean supplies. Brazil is anticipated to achieve a record soybean crop of 163 mmt in 2024, benefiting from the transition from La Niña to El Niño weather conditions.

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