Soybean: Currency Appreciation Supports Prices

A recent survey by Cepea indicates that domestic soybean prices have remained steady in recent days, supported by the strengthening of the dollar. However, domestic price increases were limited by expectations of high national stocks.

According to Cepea researchers, there are few active agents in the spot market. While some consumers are adequately supplied for the medium term, many producers are avoiding selling large volumes, paying close attention to the appreciation of the dollar against the Real, which tends to attract importers to Brazil.

Another factor contributing to the market's cautious stance is the announcement of a strike by the union of soybean crushing industries in Argentina on Thursday, the 27th. This situation could redirect international demand to Brazil in the coming days, according to Cepea researchers.