Brazil: Soybean meal value in Mato Grosso registered a decrease of 8%
Soybean Meal
Refined Soybean Oil
Agricultural By-products
Brazil
Published Jun 1, 2023
Tridge summary
The value of soybean meal in the state recorded a recession of 8.04% compared to the same week last year and 3.01% in relation to the weekly price, being quoted at R$ 2,060.33/t. This devaluation is guided by the drop in the price of the product on the Chicago Stock Exchange.
The Mato-grossense Institute of Agricultural Economics (IMEA) reported that, as for soybean oil in Mato Grosso , the price dropped 49.34% compared to the same period last year, being quoted at BRL 4,228.00/t on the previous week, this is due to the widespread availability of the by-product on the international market, which influenced the drop in prices in Chicago.
However, due to the increase in internal demand and the appreciation in the CME-Group, the product's value increased by 0.27% in the last week. Finally, last week, President Joe Biden announced changes in biofuel policy in the US, which could favor soybean oil demand in the medium term and move prices in Chicago.
Original content
The value of soybean meal in the state recorded a recession of 8.04% compared to the same week last year and 3.01% in relation to the weekly price, being quoted at R$ 2,060.33/t. This devaluation is guided by the drop in the price of the product on the Chicago Stock Exchange. The Mato-grossense Institute of Agricultural Economics (IMEA) reported that, regarding soy oil in Mato Grosso , the price dropped 49.34% compared to the same period last year, being quoted at BRL 4,228.00/t on the previous week, this is due to the widespread availability of the by-product on the international market, which influenced the drop in prices in Chicago. However, due to the increase in internal demand and the appreciation ...
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