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Brazil: Soy values fluctuated at the end of May, while corn decreased

Soybean prices oscillated with certain strength at the end of May. The values of corn have fallen in the last few days in most regions monitored by Cepea.

Soybean prices oscillated with certain strength at the end of May. Researchers at Cepea indicate that, in bearish times, the values are influenced by good weather that favors the advancement of the crop in the United States, the harvest in Argentina, and the completion of field activities in Brazil. Soybean valuations were linked to low U.S. stocks and the retraction of Brazilian producers to sell new spot volumes. In this last case, there is a great disparity between the values offered by buyers and those requested by sellers.

Corn prices have fallen in recent days in most regions monitored by Cepea, pressured by the sellers' greater interest in negotiating the grain. Producers are more active in the spot market, in light of the approaching harvest of the second crop, the expectation of improvement in the conditions of the crops and the recent international devaluations. On the purchasing side, according to researchers at Cepea, it appears that many prioritize the consumption of stocks in the short term, waiting for further declines in prices after the advancement of the harvest. In this environment, between May 21 and 28, the indicator ESALQ / BM&FBovespa (Campinas region, SP) fell 2.6%, closing at R$ 99.24 / bag on Friday, the 28th.