North Hemisphere crop is almost defined

With the soybean crop almost defined in the North Hemisphere, Brazilian growers are already able to hedge the production of next season. From now on, agents turn their attentions to the planting in the South Hemisphere, especially in Brazil and Argentina.

On its latest report about global supply and demand, USDA forecasted the North-American soybean production at 79.9 million tons, against 80.9 million from the agency's August estimate. The global production, in turn, should enlarge to 238 million tons, up 9.1 percent from the previous crop. For ending global stocks, it is also expected an increase.

In Brazil, the CEPEA/ESALQ Index (Paraná state) downed slight 0.4 percent in Real between August 29th and September 15th, closing at 46.47 reals or 25.62 dollars per bag of 60 kilos. For the product delivered at Paranaguá port, the ESALQ/BM&F Index devaluated 0.45 percent in Real, averaging 48.63 reals or 26.81 dollars per bag. (Cepea - Brazil)

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