Soybean prices moved up last days in the domestic and international markets. At the Chicago Mercantile Exchange (CBOT), the support came from the increases of wheat and corn quotations and from the adverse weather conditions in the United States. Not even the USDA report, which showed higher global stocks of soybean (in grain) compared to the previous forecast (March), has pressed the market. Even though, stocks are the lowest of the last three crops. Between April 3rd and 10th, the contract May/08 increased 7.9 percent, averaging 13.56 dollars per bushel (29.89 dollars per bag of 60 kilos).
In Brazil, the ESALQ/BM&F Index (product delivered in the Paranaguá port) raised 7.06 percent between March 31st and April 15th, at 45.8 reals or 27.21 dollars per bag of 60 kilos on April 15th. The CEPEA/ESALQ Index (Paraná state) increased 10.07 percent in Real, at 48.43 reals or 28,78 dollars per bag of 60 kilos.
According to the National Company for Food Supply (Conab) data, published on April 8th, the soybean planted area in this crop (2007/08) should reach 21.02 million hectares. The productivity should be a record, of 2,835 kilos per hectare, resulting in a total production of 59.6 million tons.
Regarding the soybean harvesting in Brazil, activities are getting close to the end in several regions. According to the Seab/Deral (Paraná Agriculture Secretariat) data of Apr 7th, more than 80 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 37 percent of the total area cultivated was harvested, favored by the weather. (Cepea - Brazil)