September ends with stagnant soybean market; producers hold back sales

The Brazilian soybean market followed external signals and recorded, in September, a month of falling prices. The immediate consequence was a slowdown in trading, with producers holding back supply and waiting for more favorable scenarios, even though market fundamentals do not indicate an immediate recovery. The information comes from the consultancy Safras & Mercado. In the international market, Chicago Board of Trade (CBOT) contracts expiring in November fell 5%, ending the month at US$ 10.01 3/4 per bushel. The pressure on prices continues to be linked to the advancement of the American harvest, lower Chinese demand, and the temporary elimination of Argentine retentions, which led buyers from the Asian country to schedule at least 40 cargoes in Argentina. The exchange rate also contributed to the challenging scenario. In September, the dollar depreciated 1.84%, closing at R$ 5.32, pressured by the interest rate differential between Brazil and the United States, which has ...