Soybean prices ranged from stable to firmer in Brazil

The Brazilian soybean market had a week of firm prices and moderate improvement in the pace of business. With the dollar above BRL 5.00, the improvement in premiums and also with gains in futures contracts in Chicago, the scenario improved for trading.

In Passo Fundo (RS), a 60-kilogram bag dropped to BRL 123.00. In the port of Rio Grande, prices increased to BRL 130.00 per bag.

In Cascavel, in Paraná, the bag rose to BRL 123.00; in the port of Paranaguá (PR), to BRL 129.50; in Rondonópolis (MT), to BRL 116.00. In Dourados (MS), prices remained at BRL 115.00 per bag; and in Rio Verde (GO), at BRL 113.50.

On the Chicago Board of Trade, the week was positive. Technical movements and the positive performance of other commodities, particularly wheat, amid concerns about dry weather in important growing countries, helped support the oilseed.

There is also a forecast for excessive rain in the United States in the coming few days, which could delay planting. However, in the long term, the fundamental scenario is bearish. Initial movements point to a large US crop.

Export premiums remain firm. Chinese demand has moved to South America, which has more attractive prices compared to the United States.

Completing the positive scenario, the dollar is above BRL 5.00 due to the still troubled scenario on the global financial market. The doubts are about the start of the cut in US interest rates. High interest rates mean greater risk aversion and capital migration from commodities to safer investments.

Tags: prices, soybeans, futures, Market, premiums, export, Brazil