Harvest advances and soybean prices drop in Brazil; producer negotiates more

Published 2023년 3월 20일

Tridge summary

The article highlights the impact of Brazil's largest soybean harvest on the domestic and global market, leading to a decrease in prices. The expanding supply, both in Brazil and negatively affecting the Chicago Stock Exchange due to global financial issues, has resulted in a devaluation of contract maturing in May by 1.03%, closing at US$ 14.91 ½ per bushel. The drop in premiums in ports and the willingness of negotiators have also increased shipments, resulting in lower prices for soybean bags in various regions.

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Original content

The advance of the harvest of the biggest soybean crop in the history of Brazil is determining the drop in prices in the domestic market. Without many options and faced with a scenario of expanding supply, producers negotiate, taking advantage of the spikes, expanding sales. Due to the large Brazilian harvest and negative global financial conditions, prices also dropped on the Chicago Stock Exchange. Contracts maturing in May had a devaluation of 1.03%, closing Thursday, 16, at US$ 14.91 ½ per bushel. The commercial dollar rose 0.58% in the period, reaching R$5.238 and easing the negative impact of futures contracts. Highlight once again for the drop in premiums in ports, which remain negative. The increase in supply and the willingness of negotiators was also reflected in shipments, mainly for the period between ...

Source: Portal Do Agronegocio