Valorization of soybean Meal and Adverse Weather Keep Grain Prices High

The prices of soybeans continue to rise in the Brazilian market. According to researchers at Cepea, the impetus mainly comes from the valorization of meal. Additionally, heavy rains in Rio Grande do Sul (the second-largest soybean-producing state) have been delaying field activities and raising concerns about the quality of crops and the volume offered, both of the grain and its derivatives.

In April, the ESALQ/BM&FBovespa Indicators - Paranaguá and CEPEA/ESALQ - Paraná reached the highest averages of the year, in real terms (calculated through the IGP-DI, of March/24), at R$ 129.79/bag and R$ 122.66/bag of 60 kg, respective increases of 4% and 4.6% compared to March.