With the drop in the price of soybean oil, the grain depreciates

Soybean oil prices have fallen in recent days, putting pressure on grain values, as shown by data from Cepea. Between June 17th and 24th, the ESALQ/BM&FBovespa Indicator – Paranaguá (PR) fell 5,32%, to R$ 188,96/sc of 60 kg on Friday, 24th. The CEPEA/ESALQ Indicator – Paraná fell 4,95 %, closing at R$ 184,07/60 kg bag.

The lows limited business transactions, despite the rise in the dollar. The devaluation of soybean oil, in turn, was linked to falls in the prices of palm oil and petroleum.

Expectations that the 2022/23 harvest in the United States will be high – favored by the weather –, a global recession and a new lockdown in China have intensified the pressure on prices.