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Soybean Closes April with Highest Averages of 2024; External Appreciation Sustains Quotations

soybean

Recent surveys by Cepea show that soybean prices are holding steady in the Brazilian market, supported by external appreciation.


The April averages (up to the 25th) of the ESALQ/BM&FBovespa Indicators – Paranaguá and CEPEA/ESALQ – Paraná are respectively 2.2% and 2.9% higher than those of March and are already the highest since January/24 – during that period, concerns about the climate over South American crops boosted internal values.


Regarding soybean harvesting in Brazil, Cepea's monitoring indicates that activities are nearing completion. According to Conab, 86.8% of the cultivated area had been harvested by April 21, with a weekly increase of 3.6 percentage points, but still below the 89% recorded a year ago.


This slower pace of fieldwork is attributed to rainfall in the South of the country and in parts of the Northeast, as analyzed by researchers at Cepea.

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