Greater demand increases domestic soybean values

Soybean prices rose in Brazil last week, driven mainly by greater interest from buyers. According to Cepea researchers, these agents took advantage of the high level of the dollar – which returned to operating above R$5 – to carry out short-term business for the domestic market and complete ships.

Sellers, who were also more active during the period, sought to “save cash” to pay costs. In fact, the values ​​of soybeans in Brazil diverged from those observed in the foreign market, which fell, pressured by the good pace of sowing and weakened demand.

As for derivatives, demand from poultry and pig farmers for soybean meal was stronger, a scenario that increased the product's prices in Brazil. In the case of oil, values ​​fell, pressured by lower demand for biodiesel production in Brazil.