Demand for grain and soybean derivatives from the US and BR increases

International prices for the soybean complex rose last week, due to greater external demand for soybeans from the United States and expectations of an increase in global demand for North American and Brazilian derivatives.

This scenario, in turn, is related to uncertainties regarding the volume of soy derivatives to be offered by Argentina (the main global supplier of soybean meal and oil). Furthermore, the low volume of rainfall in important producing regions in the Northern Hemisphere also boosted external values, as this could reduce productivity in the 2022/23 harvest.