Futures decrease and press prices down in Brazil

Cepea, July 2 2019 – Quotes of soybean decreased in June, influenced by the improvement of weather conditions in the Midwest of the United States and, consequently, decreases of futures traded at CME Group. The dollar decrease against the Brazilian currency also influenced prices in Brazil – the US currency moved down 2.3% from May 31 to June 28, to 3.836 BRL on June 28. In the last week of June, liquidity was lower, different from the scenario registered at the beginning of the month, when agents were willing to trade.


The gap between asking and bidding prices continued to limit trades in June. Between May 31 and June 28, the ESALQ/BM&FBovespa soybean Index at Paranaguá dropped 0.94%, to 81.80 BRL (21.33 USD) per 60-kilo bag on June 28. In the same comparison, the CEPEA/ESALQ Index for Paraná downed 1.85%, to 75.70 BRL (19.73 USD) per 60-kilo bag on June 28. However, the monthly averages of both Indexes rose 4.5% and 4.6%, respectively, and are the highest since December/18, in real terms (values were deflated by IGP-DI May/19).


BYPRODUCTS – Soybean meal prices dropped in late June, influenced by decreases of dollar and future values. However, comparing monthly averages from May and June, quotes increased. The demand from the animal feeding sector remained firm, mainly from hog producers, who registered a good performance of exports, mainly to China. As for soybean oil, trades continued to move at a low pace, because purchasers in the food sector closed anticipated contracts and were only receiving the product in the end of the month.





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