Brazil: Soybean prices drop at the end of January 2026 due to supply pressure and exchange rates

According to Cepea, the expectation of a record soybean crop in Brazil is the main factor putting pressure on prices. Additionally, the appreciation of the Brazilian Real against the USD has reduced the competitiveness of Brazilian soybeans on the international market, causing some customers to switch to supplies from the United States. Domestically, the soybean harvest is proceeding according to schedule. However, Cepea reports that soil moisture in many southern regions remains below optimal levels, especially in late planting areas, forcing farmers to closely monitor weather developments. Upcoming rainfall, if realized, could help improve growing conditions and reduce stress on crops. According to Conab, as of January 24, the harvested soybean area nationwide reached 6.6%, higher than the 3.2% at the same time last season. Mato Grosso state ...