With accelerated harvest and weak demand, soybeans depreciate in Brazil.

Soybean prices in Brazil ended January in decline, pressured by a combination of factors that includes the advance of the harvest, the appreciation of the real against the dollar, and weakened domestic demand. The scenario worries producers and analysts, especially in light of the climatic uncertainties in the South of the country. According to analysis from Cepea, the prospect of a record crop in Brazil has contributed to the pressure on soybean prices. The abundant supply adds to the appreciation of the Brazilian currency, which reduces the attractiveness of national soybeans compared to U.S. soybeans in the international market, turning away importers. This exchange rate movement tends to directly impact the profitability of Brazilian producers. "With the stronger real, the export premium loses attractiveness, making U.S. soybeans more competitive," explain Cepea analysts. In the fields, harvest work continues at a gradual pace. As of January 24, 6.6% of the national area had ...