Soybean producers retreat and prices rise

Domestic soybean prices rose last week according to surveys by the Center for Advanced Studies in Applied Economics (Cepea). The boost came mainly from the retraction of producers for sales involving large volumes. Soybean farmers are attentive to the appreciation of the dollar, which makes the Brazilian commodity more attractive compared to the American grain. The higher external demand and the new tariffs announced by the United States government to China, which come into effect in November, may also further increase Brazil's sales. However, researchers explain that this scenario has pressured soybean futures prices in the United States. In turn, external devaluations have limited the increases in the Brazilian market. As for the ...