The prices of soybean meal and oil are experiencing a decrease.

Last week in Mato Grosso, the price of soybean meal experienced a weekly decline of 0.74%, reaching an average of R$1,704.00 per ton. Analysts from the Mato Grosso Institute of Agricultural Economics (Imea) note that the limited sale of bran in small volumes indicates reduced demand for this byproduct during the analyzed period.

Simultaneously, the state's feedlots have not displayed significant demand for bran, aligning with the downward trend in cattle prices.

In the realm of soybean oil, a similar trajectory is observed. The decline in the byproduct's price in Chicago is reflected in Mato Grosso's domestic market, where prices fell by 0.64% compared to the previous week, settling at an average of R$3,900.00 per ton.

Despite the introduction of increased biodiesel blending with diesel, starting in March 2024 at 14.00%, the Brazilian market has yet to show substantial demand for higher volumes of soybean oil, which remains the primary component of national biodiesel.