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Cepea, December 6, 2023 – Higher demand from abroad has boosted the liquidity in Brazilian soybean market in late November, underpinning prices. According to Secex, Brazil shipped 5.2 million tons of soybean in November, 105.8% more than that verified in the same month of 2022 and a record for the period.
In the domestic market, Cepea also indicates sellers with more interest in trading soybean to be delivered between December/23 and January/24. The reason is the necessity of releasing warehouses to receive the product of the 2023/24 season in Brazil.
CROPS – Rains in both the Central-Western and the Southeastern areas in Brazil have brought a relief to players. 2023/24 sowing activities have gained pace in late November – they were progressing a little due to the lack of humidity and high temperatures. In the South, on the other hand, the excess of rainfall has increased the soil moist, limiting planting activities. Moreover, the low amount of light also concerns producers, since it can affect the development of crops.
Conab says that 75.2% of the national area had been planted up to November 25, below the 86.1% registered in the same period of the last season.
(Cepea-Brazil)
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Fonte: Cepea