Brazilian soybean agents turned their attentions to the planting activities last days. Despite the good weather conditions, growers are concerned, since the cultivated area is still inexpressive.
According to the Conab (National Company for Food Supply), the Brazilian soybean cultivated area should overtake the 61 million tons in the 2007/08 crop, a record, increasing 2.4 and 5.7 percent over the previous crop.
In October, Cepea's researchers met with some growers of the Mato Grosso state for calculating the costs of production in the main producer regions. On the contrary that was expected, the total cost of production for the 2007/08 crop should increase around 10 percent in that state over the previous crop. This result is basically linked to the higher costs of fertilizer and herbicides.
Regarding trades, Brazilian soybean market moved at a slow pace last days. Normally, growers are more capitalized in this period. Besides, some of them have been stocking the product, betting on higher values for the next months.
The ESALQ/BM&F Index for the product delivered in the Paranaguá port upped slight 1.24 percent in Real during the first fortnight of October, averaging 43.15 reals or 23.78 dollars per bag of 60 kilos this Monday. The CEPEA/ESALQ Index (Paraná state) kept stable in the same period, at 40.22 reals or 22.16 dollars per bag.