Government helps, but exchange rate is still the main problem

The government support program announced on May 25 brought some relief to the Brazilian soybean sector, but the main problem - the exchange rate - is still the "bad guy". The local currency has been oscillating more in this beginning of June. When it gets better and so do the future prices in Chicago Mercantile Exchange (CBOT), Brazilian growers traded some lots. In the other days, the market moves at a slow pace.

The current soybean prices are 0.63 percent inferior to the average of the nominal values, in reais, of the last nine years, around 12.00 dollars per bag of 60 kilos.


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