Brazilian domestic soybean market maintains steady business

ton. Regarding the futures market, players continue to monitor Chinese imports of US soybeans. To date, there are only records of three shipments by COFCO, totaling 180,000 tons. However, according to the White House, China is expected to purchase 12 mln tons by the end of 2025, which should begin to appear in the weekly US export reports, still suspended due to the US government shutdown. Last week, China reduced the import tariff on US soybeans to 13%, which, even so, does not make the US product competitive compared to Brazilian soybeans, which pay only a 3% tariff. Even with the recent surge on the CBOT, the US flat price remains much higher than the Brazilian one, also in the spot market, where the difference is smaller, but in the new crop it is brutal — more than USD 20 to USD 30 per ton at ports. In addition, premiums in the Gulf are higher than Brazilian premiums, which maintains Brazil’s competitive advantage over the United States. These factors raise strong doubts ...