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Cepea data show that domestic soybean prices in Brazil continued to fall last week, trading at the lowest real levels since last March. According to the research center, the pressure came from the advance of the 2024/25 season harvest in Brazil, the reduction of withholding taxes on the soybean complex in Argentina, and the exchange rate devaluation (dollar/real). These factors, according to Cepea researchers, drove buyers away from the Brazilian product. Demand for Brazilian soybeans will probably continue to slow in the coming days due to the Chinese New Year, which began on January 29.
From December 2024 to January 2025 (up to the 30th), the CEPEA/ESALQ Indicator - Paraná recorded a sharp drop of 6.2%, with a current average of 129.82 reais per 60 kg bag, the lowest level since March 2024 in real terms (according to the December 2024 IGP-DI).
February 3, 2025/ CEPEA/ Brazil.
https://www.cepea.esalq.usp.br
