Domestic prices resist the international decreases

In the first fortnight of July, Brazilian soybean prices resisted the significant decreases in the international market. From June 30th to July 15th, the CEPEA/ESALQ Index (Paraná state) dropped only 1.2 percent in Real, closing at 52.00 reals or 32.74 dollars per bag of 60 kilos on Jul 15th. For the product delivered at the Paranaguá port, the ESALQ/BM&F Index decreased 1.5 percent in Real, at 54.43 reals or 34.27 dollars per bag. Due to the decreasing quotations, sellers were less willing to trade.

The 10th Conab - Federal government report showed an increase of 2.5 percent (1.45 million tons) in the soybean crop production compared to the 2006/07 crop.

In the international market, futures decreased due to the better climate in the United States, which allowed the planting progress. Moreover, the dollar appreciation and the lower petroleum values also pressed soybean quotations down.

According to the Foreign Trade Secretariat (Secex), in June, Brazilian soybean exports decreased 20.2 percent in relation to May, totaling 3.5 million tons. Compared to June/07, however, there was an increase of 15.2 percent. In the accumulated of this year, soybean exports reaches 13.7 million tons, 7.6 percent higher over the volume registered between January and June 2007. (Cepea - Brazil)

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