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The external demand for Brazilian soybean meal has heated up again, leading exports in July to reach the highest volume since 2004. This scenario resulted in higher export premiums, lower supply of large lots by the industries in the domestic spot and higher prices for soybean meal. According to Secex, Brazil exported 1.987 million tons of soy meal in July, the largest quantity since June 2004, when foreign sales totaled more than two million tons. The prices of soybean oil, on the other hand, fell again in the last few days. According to Cepea researchers, although domestic demand for the production of biodiesel remains strong, the food industries are cautious in their purchases, waiting for lower prices. In addition, foreign demand has also weakened. For soybeans, the values presented distinct behaviors during the last week--> the first week of August?. The low stocks of the 20/21 harvest, the appreciation of the dollar against the Real, and the increase in premiums resulted in higher prices on some days. On the other hand, attentive to the good progress of North American crops, some producers increased the supply of soybeans on the domestic spot, increasing liquidity, especially for export, and pressuring values at times.
August 9, 2021/ CEPEA/ Brazil.
https://cepea.esalq.usp.br/