Soybean international prices kept reaching record last days at the Chicago Mercantile Exchange (CBOT). The upward trend remains linked to the higher demand, to the lower global stocks and to the petroleum increases. For the contract March/08, futures averaged 1.522 dollars per bushel this Friday, Feb 29th, a record and rising 19.4 percent over Jan 31st.
Following the increases at the CBOT, the FOB prices delivered by the Paranaguá port (Paraná state - Brazil) also moved up. To delivery in March, April and May, the FOB values have reached 31.47 dollars per bag on Friday, increasing 13.8 percent (March), 15.7 percent (April) and 15.14 percent (May). In this way, those growers who decided to trade the 2007/08 crop in this period should obtain advantages over those who traded previously.
In the domestic market, the ESALQ/BM&F Index (product delivered in the Paranaguá port) increased 6.9 percent in Real during the month, closing at 51.18 reals or 30.26 dollars per bag of 60 kilos on Feb 29th. For the CEPEA/ESALQ Index (Paraná state), the raise was of 5.45, at 48.99 reals or 28.97 dollars per bag of 60 kilos.
Regarding the harvesting, activities have been moving on in all Brazil. However, they are still delayed compared to the same period of the previous years. (Cepea - Brazil)