Soybean Prices Drop in Brazil Despite Better Port Premiums

Soybean prices remain under pressure in Brazil, even with slightly more favorable premiums at ports and an exchange rate fluctuating below R$ 5.50. According to information released by the International Center for Economic Analyses and Agricultural Market Studies – CEEMA, the main gaucho markets operated with values between R$ 117.00 and R$ 118.00 per sack, while in other regions of the country prices varied between R$ 107.00 and R$ 118.00. The low scenario reflects the negative trend in Chicago Board quotations, impacted by trade tensions with China and, more recently, with Brazil, due to tariff threats from the North American government. The soybean bushel closed on July 10 quoted at US$ 10.12, compared to US$ 10.56 the previous week. Furthermore, the market awaits the USDA supply and demand report, scheduled for July 11. The expectation is of a possible increase in North American production, favored by positive ...