Soybean meal prices rise driven by national demand and global appreciation

게시됨 2023년 12월 14일

Tridge 요약

Soybean meal prices in Brazil rose 7.5% from October to November due to increased domestic demand and external appreciation, with an annual comparison showing a 5.5% drop. The demand for soybean oil also increased in November, with prices rising 3.6% in the São Paulo region, driven by higher industrial sector demand and expectations of increased exports to India. Soybean liquidity increased in the national spot market, with Brazil shipping a record 5.2 million tons of soybeans in November, leading to a 105.8% increase in shipments compared to the same month in 2022. However, field activities are behind previous years, with soybean sowing in Brazil reaching only 83.1% of the national area by December 2, below the 90.7% cultivated a year ago.

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원본 콘텐츠

The dispute for soybean meal between domestic and international buyers was more intense in November. Consumers Households showed a need for new purchases in the national spot, due to reduced stocks. This scenario linked to the external appreciation of bran – in the face of greater global demand – boosted domestic prices of the product. On average for Brazilian regions monitored by Cepea, soybean meal prices rose 7.5% from October to November. In the annual comparison (November/22 to November23), prices dropped 5.5%. On the CME Group (Chicago Stock Exchange), the Dec/23 soybean meal contract appreciated by a significant 13% between October and November, averaging US$452.15/short ton (US$498.41/t). In one year, the increase was 9.5%. As for soybean oil, domestic demand was also higher in November, especially from the industrial sector. As a result, raw and degummed soybean oil in the São Paulo region (with 12% ICMS included) was once again traded at the highest levels since March ...

출처: Opresenterural