Prices rise in Brazil, but premium drops and constrains valuations; sowing steps up

Cepea, November 4, 2019 – Soybean prices increased in the Brazilian market in October, due to the lack of rains in important producing regions most part of the month, the low soybean amount remaining from the 2018/19 crop, and international valuations for soybean. On October 17, the ESALQ/BM&FBovespa soybean Index at Paranaguá closed at 90.07 BRL (21.65 USD) per bag, same nominal level observed in October 2018.

 

However, decreases in exports premiums constrained valuations in Brazil, and quotes resumed dropping. On October 31, the Index at Paranaguá closed at 87.38 BRL (21.78 USD) per bag, 0.7% up compared to that on September 30. The CEPEA/ESALQ Index for Paraná, in turn, closed at 82.15 BRL (20.48 USD) per 60-kilo bag, 1.6% up in the same comparison.

 

FIELD – In Paraná, according to Deral/Seab, 65% of the area may have been sown until October 28. In Mato Grosso, sowing stepped up late in the month. According to Imea, 64.5% of the area had been sown until October 25.

 

In Rio Grande do Sul, sowing usually occurs later than in Paraná and Mato Grosso, but, this season, activities in RS are more advanced than they were last crop, having reached 13% of the area. In Santa Catarina, sowing has reached 30% of the area, according to agents consulted by Cepea.

 

(Cepea-Brazil)

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