Brazilian soybean prices started to decrease at this beginning of December, as usual for this period of the year, when the demand normally reduces. The CEPEA/ESALQ Index (Parana state) downed 4.15 percent between November 30 and December 13, closing at 14.79 dollars per bag of 60 kilos.
Soybean harvest activities had been concluded in the United States. In Brazil, 90 percent of the area was planted. From now on, Brazilian growers should focus on the weather and the phytosanitary conditions. Since there is no drought forecast, agents are concerned about the possibility of soybean rust - which could cause premature fall of the leaves, damaging the production.
According to Conab (National Company for Food Supply), Brazilian soybean cultivated area should reduce 7.1 percent, from 22.23 to 20.66 million hectares. The crop production, however, should be the highest one, estimated in 54.72 million tons.
In the international market, the higher prices are related to the better demand. Soybean has been traded at more than 6.50 dollars per bushel at Chicago Mercantile Exchange (CBOT), even with the estimative of record global production.