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Cepea, May 6, 2024 – The excess of rainfall in Rio Grande do Sul (second biggest soybean producer in Brazil) has been concerning agents. In Argentina (major global exporter of soybean meal), rumors of a possible strike in the country concern purchasers of the byproduct in the world. In this scenario, the demand (both domestic and international) for the Brazilian soy meal has increased, boosting liquidity and prices.
Therefore, export premiums have increased and continue positive. It is worth noting that, in this period of the year, it is common for premiums to operate at negative levels, due to the season period in South America.
On the average of the regions surveyed by Cepea in Brazil, soymeal prices rose 0.3% comparing averages in March and in April. As for the soy oil (in São Paulo city with 12% ICMS), values upped 1.1% from March to April, influenced by the increase of export premiums in Brazil.
SOYBEANS – Prices moved up in Brazil in late April, boosted by increases of soybean meal quotations. Moreover, the significant volume of rains in Rio Grande do Sul has been affecting crop activities, bringing concerns about the quality.
The ESALQ/BM&FBovespa Index (Paranaguá) upped 4.04% from March 28 to April 30, closing at BRL 129.05 per 60-kg bag on April 30. The CEPEA/ESALQ Index (Paraná) increased 4.1%, to close at BRL 124.51 per 60-kg bag. In April, the Indexes averaged BRL 129.79/bag (Pranaguá) and BRL 122.66/bag (Paraná), moving up 4% and 4.6% against March, respectively. The averages in April are the highest of this year, in real terms (IGP-DI March/24).
CROPS – Data from Conab indicate that 90.5% of the 2023/24 area had been harvested. The delay is more significant in the South.
(Cepea-Brazil)
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Fonte: Cepea