Soybean prices fall in Brazil and halt the market

Source:  SAFRAS & Mercado
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The Brazilian soybean market had a week of little movement. With the dollar and Chicago in opposite directions, traders left the market, and prices had a negative and regional behavior.

The 60-kilogram bag dropped from BRL 195.00 to 194.50 in Passo Fundo (RS). In Cascavel (PR), prices fell from BRL 190.50 to 189.00, and Rondonópolis (MT), from BRL 180.00 to 178.00.

At the Port of Paranaguá, the bag decreased from BRL 197.50 to 195.50. Premiums remained firm, reflecting slow sales in the physical market and the expected resumption of Chinese demand. But trading was thin.

On the Chicago Board of Trade (CBOT), contracts maturing in July appreciated by 3.57%, ending Friday at USD 17.05 a bushel. Signs of a resumption of purchases by China and a scenario of lower risk aversion in the global financial market supported prices.

The dollar fell 3.69% last week, closing at BRL 4.8710 on Friday, pressured by the resumption of the flow of foreign investment in Brazil.

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