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Given the lower volume of rain from the second half of March on, the soybean harvest intensified in Brazil (74.5% of the area had been harvested by the end of the month, according to Conab), with harvest in the final stretch in Mato Grosso, the country's leading soybean producer.
Marketing experts consulted by Cepea indicate that yields and quality of the 2022/23 harvest are excellent in most of the country, strengthening the estimated record production. This scenario has put pressure on premiums and, consequently, soybean prices in Brazil.
The indicator ESALQ / BM&FBovespa - Paranaguá (PR) averaged R$ 162.12 per 60-kg bag in March, down 6.1% between February and March and down a significant 18.1% compared to the same period last year. The average in the last month was also the lowest since June 2020, in real terms. Negotiations for shipments at the port of Paranaguá (PR) were limited by frequent interdictions in the main access road to the port, due to landslides and cracks in the roads. This scenario directed soybean shipments to other ports, such as Santos (SP) and São Francisco (SC).
April 6, 2023/ CEPEA/ Brazil.
https://www.cepea.esalq.usp.br
