Soybean prices declined over 5% in Mato Grosso last week

08.02.2017

The prices of soybeans in the Brazilian state of Mato Grosso, the top producing state in the country, fell 5.3 percent last week to R$ 58.01 per bag of 60 kilograms, according to the Mato Grosso Institute of Agricultural Economics (Imea).

Analysts say that prices were influenced by more supply, the dollar devaluation and devalued soybeans in Chicago. The dollar has reached its lowest value in three months and ended last week at R$ 3.15.


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