Although soybean prices are rising in Brazil, United States is taking shipments

Published 2022년 12월 19일

Tridge summary

Soybean prices in Brazil are increasing due to internal demand for bran and oil, with producers receiving a higher payment for February and March 2023 shipments to the United States. However, concerns about the climate, particularly rainfall, in southern states of Brazil could impact future production. Chinese purchases of soybeans from both the US and Brazil for January and March 2023 respectively are noted. The potential for a window mismatch and strong pressure on CFR prices in Brazil is raised, while export commitments have increased by 4% compared to last year. Factors such as the possibility of increased COVID-19 cases in China, higher interest rates by certain banks to combat inflation, and the status of soybean planting in Argentina are also impacting the market.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Although soybean prices are rising in Brazil, the United States is “taking our shipments” for the months of February and March 2023, warns the team of market analysts at TF Agroeconomic Consulting. According to them, prices paid to producers rose from 1.32% to 3.27% in the states of RS, PR, GO and MS, where there are more crushing industries, thanks to the good demand for bran and oil in the market. internal. On the other hand, the “climate is starting to worry” in the southern states: “A lot of rain is forecast for the north-central region of Brazil, little rain until the end of the year for RS, southern Paraguay and all of Argentina”. Consultancy Agrinvest reports that China bought soybeans last week, mentioning more than 10 boats in the US for January and more than 12 in Brazil for March. “Trading companies in Brazil are starting to ask themselves what they will do with soybeans for February and March shipments when producers start selling. A window mismatch may occur, which ...

Source: Agrolink