Soybean market in Brazil continues with specific negotiations

Published 2024년 10월 21일

Tridge summary

The Brazilian soybean market is seeing minor fluctuations as the Chicago Mercantile Exchange tries to recover, with the dollar showing stronger against the real, keeping Brazilian soybeans competitive internationally. Despite stable prices in many regions, lack of interest among producers to sell due to planting priority. Soybean futures for November 2024 rose 0.41%, trading at US$9.74 per bushel, driven by a technical recovery and increased oil prices. The commercial dollar and Dollar Index also saw slight increases, while main stock exchanges in Asia and Europe closed mixed, with oil continuing to rise.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The Brazilian soybean market continues to register occasional movements, in a scenario where the Chicago Mercantile Exchange is trying to recover, although gains are still modest this Monday morning. In the exchange rate, the dollar, which started the day volatile, is already showing greater firmness against the real, which keeps Brazilian soybeans competitive in the international market. On Friday, negotiations in Brazil remained at a standstill, with few deals being made. Despite firm prices in some regions, prices fell slightly. The lack of interest of producers in selling their production is due to the focus on planting, which has been the priority at this time. In regional terms, in Passo Fundo (RS), the price of a 60-kilo bag remained stable at R$133.00, while in the Missões region, the price remained at R$132.00. In the Port of Rio Grande, the price remained at R$141.00 per bag. In Paraná, the price of a bag of soybeans in Cascavel fell from R$138.00 to R$136.00. At the ...

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