Brazil: Soybean prices return to March/24 levels

Cepea surveys show that domestic soybean prices continued to fall last week, already operating at their lowest real levels since March of last year. According to the Research Center, the pressure came from the advance of the 2024/25 harvest in Brazil, the reductions in withholding taxes on the soybean complex in Argentina and the exchange rate devaluation (US$/R$). These factors, as explained by Cepea researchers, drove buyers away from the Brazilian product – and, it is worth remembering, the demand for national soybeans should remain low in the coming days, due to the Chinese New Year, which began on January 29. From December/24 to January/25 (up to the 30th), the ...