Brazil: Soybean bran and oil register high in Mato Grosso

Published 2023년 10월 31일

Tridge summary

In October 2023, Mato Grosso saw increases in the average prices of soybean meal and oil, with bran increasing by 3.12% and oil increasing by 0.38% compared to the previous month. These price hikes were attributed to increases in product prices on the Chicago stock exchange and the appreciation of Brent oil. However, despite the monthly increases, soy by-products showed significant devaluations of 12.94% for bran and 32.39% for oil compared to the same period the previous year, mainly due to the drop in soybean prices. The monthly price increases had a positive impact on the industries' gross margin, which saw a 4.49% increase compared to the previous month.

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

Original content

In the month of October 2023, the average prices of soybean meal and oil in Mato Grosso (MT) showed notable variations, with an increase of 3.12% and 0.38% compared to the previous month. The final values reached R$2,120.83 per ton for bran and R$4,403.25 per ton for oil. The Mato Grosso Institute of Agricultural Economics (IMEA) reported that the increase in bran prices is attributed to the increase in the prices of this product on the Chicago stock exchange. Soybean oil saw its value rise due to the appreciation of Brent oil, a relevant factor for the soybean oil market. However, even with the monthly increase, when compared to the same period of the previous year, the prices of soy by-products showed a significant devaluation of 12.94% for bran and 32.39% for oil. This decline was mainly influenced by the drop in soybean prices. Until October 27th, the average soybean ...

Source: Agrolink