Soybeans retreat in Brazil despite slight recovery in Chicago

The soybean market ended the first week of October under pressure in Brazil, despite signs of recovery in international prices. Between September 26 and October 2, the bushel of the oilseed in Chicago went from US$ 10.12 to US$ 10.23, driven by an 8% cut in quarterly U.S. stocks and expectations of a resumption in trade with China. Nevertheless, the Brazilian domestic market continued on a downward trend, with the weekly average in Rio Grande do Sul at R$ 122.46/sack. According to CEEMA/Unijuí, the weaker premiums at the ports and the stable exchange rate around R$ 5.30 negatively impacted prices in the country. In places like Não-Me-Toque (RS), Nonoai (RS), and Pato Branco (PR), soybeans were quoted at R$ 119.00/sack, while in Maracaju (MS) it reached R$ 123.00. The planting of the new 2025/26 soybean crop is advancing slowly, reaching 3.2% of the estimated area, according to AgRural. StoneX projects a national production of 178.6 million tons, potentially reaching 180 million if ...