Soybean: irregularity of rains reduces crop projections

The Central International for Economic Analysis and Agricultural Market Studies (Ceema) reported, in an analysis referring to the period from November 14 to 20 and published on Thursday (20), that the price of soybeans registered an increase in Brazil. According to the report, "the appreciation was driven by the depreciation of the Real, which reached R$ 5.33 per dollar, and by the relative firmness of Chicago." With this movement, the main markets in Rio Grande do Sul were at R$ 124.00 per bag, while the state average reached R$ 125.24. In other regions of the country, the values ranged between R$ 120.00 and R$ 127.00 per bag. Ceema also highlighted the progress of the new crop. According to the document, "planting reached 71% of the expected area on November 13, compared to 80% in the same period last year." Irregular rains in the Midwest and in Matopiba, according to the entity, have led private analysts to revise crop projections, now estimated between 177 and 179 million ...