Brazil: Minimum liquidity and price stability mark the bean market after the holiday

Published 2024년 11월 25일

Tridge summary

The Brazilian carioca bean market is experiencing increased activity due to advance purchases ahead of the Black Consciousness Day holiday, with high-quality beans commanding up to R$280.00/bag. However, the market slowed down due to the holiday, with storage strategies being adopted in anticipation of future appreciation. Regional disparities in pricing were noted, with the dollar's appreciation favoring exports and potentially increasing the planting area for black beans. As of now, the domestic market remains weak with limited negotiations, and the industry is on the lookout for external stimuli and exchange rate fluctuations to drive future market dynamics.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The Brazilian carioca bean market began the week with intense activity, driven by advance purchases due to the Black Consciousness Day holiday on November 20. According to an analysis by Evandro Oliveira, a consultant at Safras & Mercado, grains rated 9 were quickly negotiated at prices of up to R$280.00/bag, reflecting the low availability of higher quality lots. The best samples came from Minas Gerais and Goiás, while beans from São Paulo, affected by rain, had an average standard of 8.5. “With the holiday approaching, the market lost momentum, and buyers reduced their movement. In the interior of São Paulo, storage strategies gained strength, with operators betting on future appreciation, even for lower quality grains. This reflects expectations that the first harvest of 2024/25 will not significantly surpass that of 2023/24”, analyzed Oliveira. Lots of beans rated 7.5, offered at R$190.00/bag, attracted more interest due to accessibility, while beans rated 8.5, quoted at ...

Source: Portal Do Agronegocio