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Cepea, March 18, 2024 – Soybean prices upped in both domestic and international markets in mid-March, influenced by increases of international quotations and of dollar, besides the competition between purchasers abroad and in Brazil for the national product. Producers have been avoiding to close trades of large amounts for prompt-delivery, since they are concerned with possible lower productivity.
From February 29 to March 15, the ESALQ/BM&FBovespa Index (Paranaguá) upped 6.2%, closing at BRL 122.61 per 60-kg bag on March 15. The CEPEA/ESALQ Index (Paraná) increased 7.15%, to close at BRL 118.61 per 60-kg bag.
Besides the fact that sellers are refrained, liquidity was limited by the low availability of room at ports and by more attractive quotations to producers in the next months.
SUPPLY AND DEMAND – Data released by Conab indicate that Brazil is expected to harvest 146.85 million tons in the 2023/24 season, 5% less than in the previous, while productivity may drop 7.3%. The soy harvest reached 55.8% of the area up to March 10.
SHIPMENTS – Secex data indicate that 6.6 million tons were shipped in February, the highest volume in six months and a record for the month. Compared to January/24 and February/23, increases are 131.52% and 31.7%, respectively.
(Cepea-Brazil)
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Fonte: Cepea