Strike in Argentina Boosts Demand for Brazilian Derivatives

The strike in Argentina, the world's largest exporter of soybean meal and oil, is redirecting importers of these derivatives to Brazil, the second-largest global supplier of these products. This shift has led domestic consumers to compete with foreign buyers, resulting in increased export premiums and internal prices.

Regarding Brazilian soybean production in the 2023/24 season, the National Supply Company (Conab) estimates a decrease to 147.68 million tons. Conab also indicates the possibility of further negative adjustments due to flooding in Rio Grande do Sul.