Brazil: Soybean prices still sustained in December

07.12.2016

The prices of soybeans have been sustained in the first week of December in Brazil, according to the Center of Advanced Studies on Applied Economics (Cepea) of the University of São Paulo. The recent dollar appreciation, a stronger demand and weather worries in both Brazil and Argentina have influenced prices. In Brazil’s major port of Paranaguá (state of Paraná) the soybean value jumped 3.87 percent in November and jumped another 0.11 percent in the first days of November. Last Friday, the bag of 60 kilograms was worth R$ 80.08.

“This scenario has reduced the soybean sales of the 2016/2017 season, once the soybean growers in Brazil have a expectation of higher prices early in 2017. It is valid to remember that the negotiations were hotter in the middle of November with value above the export parity,” the Cepea report reads.


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