Soy: Rains in Brazil brings relief to producers in the Midwest and Southeast

SNA TV LIBRARY SUBSCRIBE Image by jcomp on Freepik The rains that occurred in the Central-West and Southeast brought relief to soybean farmers in these regions in recent days. According to CEPEA researchers, the planting of the 2023/24 harvest, which had been progressing little due to the lack of humidity and high temperatures, started to gain more pace. In the South region, excessive rainfall continues to impede the advancement of planting. In general, field activities are behind compared to previous years. In relation to soybean grain prices, the rise in derivatives (oil and bran) and producers' caution in negotiating the remainder of the 2022/23 harvest continue to support prices in the domestic market. Corn Negotiations involving corn remain slow in the Brazilian market. According to CEPEA researchers, despite the stronger domestic demand, sellers are focused on field activities, limiting the volume of cereal offered on the spot market. Furthermore, among active producers, ...