Soybean harvesting halts in certain areas due to rain, causing a rise in prices.

Rains in the South and Southeast of Brazil last week temporarily halted the soybean harvest in certain regions monitored by Cepea. This interruption, coupled with concerns regarding national productivity, particularly in areas facing potential yield reductions, has led soybean farmers to approach new spot negotiations cautiously.

Simultaneously, Cepea researchers note an increased interest among market agents in selling to foreign markets. However, liquidity has been constrained by the limited availability of space in Brazilian ports. This dynamic has created a complex scenario for soybean trade within the country.

Meanwhile, in Argentina, another significant global supplier of oilseeds and derivatives, challenges persist. Water scarcity during the grain development period followed by recent excessive rainfall threatens to diminish crop quality. As a consequence, soybean export premiums in Brazil experienced a rise last week, impacting domestic prices as well. These interconnected factors underscore the intricate dynamics influencing soybean markets in both Brazil and Argentina.