Slow planting and weak dollar keep soybean prices stable in Brazil

The price of a bushel of soybeans reached US$ 11.19 at the Chicago Stock Exchange, the highest quotation since July, but ended the week in decline, at US$ 10.91. The fluctuation reflects instability in the international market and the exclusion of soybeans from the list of American products benefiting from China's suspension of tariffs. This exclusion maintained the 13% tariff on U.S. soybeans, favoring the competitiveness of Brazilian soybeans. However, this factor was not enough to boost domestic prices, in light of currency devaluation and negative export premiums, which returned to levels not seen since July. According to CEEMA, quotations in the physical market remained stable. The average in Rio Grande do Sul reached R$ 126.03 per 60 kg bag, with the main Brazilian markets varying between R$ 118.50 and R$ 125.00. Rio Grande do Sul and the Midwest concentrate the regions with the greatest fluctuations. The delay in planting is another cause for concern. Soybeans have been ...