Prices continue to rise and soybean area is expected to grow in BR

Domestic prices for soybeans continue to rise. In the October partial, the ESALQ/BM&FBovespa Paranaguá (PR) Indicator rose 5,2%, to R$ 155,85/sc on Friday, October 9th. The CEPEA/ESALQ Paraná Indicator 5% in the same comparison, at R$ 153,53/sc of 60 kg on Friday.

According to Cepea researchers, the attractive prices, greater liquidity and low risk of cultivation, especially when compared to other competitors in area, should increase the area with soybeans by 2,5% in the 2020/21 season, as indicated by the Conab's first estimate.

This growth is below the average rate of the last 15 years (4,7% per year), but in line with that observed in the last five years (2,7% per year). According to Conab, the area to be sown should total 37,88 million hectares, resulting in production of 133,67 million, 7,1% above the previous harvest.