Soybean prices have fallen in the United States and Brazil in recent days, due to the reduction in international transactions of the oilseed, which resulted in a greater volume of carryover stock (from the 2021/22 harvest) compared to the quantity estimated until last month. Furthermore, recent rains in the Northern Hemisphere have benefited developing crops, relieving producer tensions.
The drop in international transactions is due to lower demand from China, which is expected to import 90 million tons in the 2021/22 harvest, almost 10% below the last harvest and the lowest volume in the last three seasons. According to the USDA supply and demand report, released on the 12th, the carryover stock for the 2021/22 harvest in Brazil (which ends in September this year) should total 22,7 million tons, a volume 22,77% lower compared to the previous harvest, but still 1,1% higher than estimated in July by the USDA.
This is due to estimates of a decline in Brazilian exports this season, forecast at 80 million tons, 1,2% below last month's report and 2% lower than the quantity shipped in the 2020/21 season.
Thus, from August 12th to 19th, both the ESALQ/BM&FBovespa – Paranaguá (PR) and CEPEA/ESALQ – Paraná soybean indicators dropped 2,3%, with respective closings of R$ 184,99/sc and R$ 179,69 .60/sc of 19 kg on Friday the XNUMXth.
Receive the latest agriculture news by email
Receive the latest agriculture news by email
The decision was made following a request for reconsideration, received as an internal appeal; the main basis was the content of ADI 5529
The movement is related to China's difficulty in internalizing the approximately 10 million tons of grain that were normally brought from Ukraine, in addition to the incidence of pests in crops that the Asian country has faced.
