The price of soybeans in Brazilian ports continues to hover between R$124 and R$127 per 60-kilo bag, as indicated by research institutions and private consultancies. In Paranaguá (PR), the reference price, measured by the Center for Advanced Studies in Applied Economics (Cepea), reached R$124.68 on Tuesday (26/3), marking a 7.91% increase in partial March figures.
According to a recent statement from Cepea, the uptick in export premiums played a role in driving up domestic grain prices, with market players showing greater willingness to engage with the international market, albeit with limited supply at port terminals.
In the Port of Santos (SP), soybeans were priced at R$127 per bag on Tuesday (26/3), as reported by Scot Consultoria. Meanwhile, in Rio Grande (RS), the price stood at R$125.50.
Cepea highlighted that recent rains in the South and Southeast of Brazil temporarily halted soybean harvesting, contributing to concerns about national productivity. This, combined with uncertainties about potentially lower yields in certain areas, has made soybean producers cautious in initiating new spot negotiations.
A survey conducted by Sim Consult reveals that export differentials for Brazilian soybeans at ports remain negative, albeit significantly reduced compared to previous weeks and increasingly approaching a potential shift to positive values. For May, the discount stands at US$0.36 on the price of the same contract on the Chicago stock exchange, while for July, it is minus US$0.10.
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