Higher demand and growers’ retreat support values

Brazilian soybean prices kept firm in April. Besides the higher demand (in the domestic and international markets), growers remained retreated, betting on new raises. From March 31st and April 30th, the CEPEA/ESALQ Index (Paraná state) increased 4.25 percent in Real, closing at 44.60 reals or 26.82 dollars per bag of 60 kilos on Wednesday. For the product delivered in the Paranaguá port, the ESALQ/BM&F Index averaged 46.91 reals or 28.21 dollars per bag of 60 kilos, rising 6.6 percent in Real.

Agents are focused on international news, including the planting, weather conditions and forecasts about the North Hemisphere area. In Brazilian fields, the harvesting is close to be concluded. According to the Seab/Deral (Paraná Agriculture Secretariat) data of Apr 28th, 94 percent of the soybean area was already harvested in the state of Paraná. For the Rio Grande do Sul state, the Emater (Regional Agriculture Office) showed that 83 percent of the total area cultivated was harvested. (Cepea - Brazil)

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