Fortnight finishes with increasing prices

Brazilian soybean prices finished the first fortnight of June in an upward trend. One of the reasons was the devaluation of the Real against the dollar, especially during the first days of the month. Besides that, grain prices upped at the Chicago Mercantile Exchange (CBOT). For the contract July/07, the raise was of 5.1 percent between May 31st and June 15th, closing at 8.4 dollars per bushel on Friday, June 15th.

The CEPEA/ESALQ Index (Paraná state) closed at 31.00 reals or 16.20 dollars per bag on Friday, increasing 2.75 percent in Real and 3.45 percent in dollar in the first fortnight of June.

According to the Foreign Trade Secretariat (Secex - Brazilian government), in May, Brazilian soybean exports totaled 3,152 thousand tons, almost the same volume exported in April. From February to May of this year, the grain exports totaled 9,146 thousand tons, reducing 3.3 percent over the same period of 2006.

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