News

Soybean premiums in Brazil recover in the week with greater external demand, says Cepea

Soybean
Brazil
Market & Price Trends
Published Mar 2, 2024

Tridge summary

Despite remaining negative compared to Chicago Stock Exchange contracts, Brazilian soybean export premiums are showing signs of recovery due to increased international demand. Domestic liquidity has also seen a rise with deals involving both current and future harvests. The National Association of Cereal Exporters has increased its projection for Brazilian soybean exports in February by over a million tons. Even though there was a drop in price on the Chicago stock exchange, the FOB price of the oilseed saw a slight increase of 0.4% from February 22nd to 29th.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

SÃO PAULO (Reuters) - Brazilian soybean export premiums still remain negative compared to Chicago Stock Exchange contracts, but showed recovery this week, in an environment of greater international demand, the Center for Advanced Studies in Economics said on Friday. Applied (Cepea), from Esalq/USP. "In view of this, domestic liquidity has heated up, with deals being carried out involving both soybeans from the current harvest (2023/24) and that which will be harvested in 2025 (season 2024/25)...", said the analysis. The premiums against the April contract, for shipment at the port of Paranaguá (PR), had indications from buyers at -40 cents per bushel and sellers at -37 cents per bushel this week. This compares with differences of -75 cents (buyers) and -55 cents (sellers) in the previous week. In the middle of the week, the National Association of Cereal Exporters (Anec) raised its projection for soybean exports from Brazil in February by more than 1 million tons. According to ...
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