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

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 ...