With harvest progress and low external demand, soybean prices fall

Soybean prices have fallen in recent days, according to information from Cepea. Between April 29 and May 6, the CEPEA/ESALQ Indicator – Paraná fell 0,9%, closing at R$ 189,44/60 kg bag on Friday, 6. The ESALQ/BM&FBovespa Indicator – Paranaguá (PR ) fell 0,7%, to R$ 193,91/sc of 60 kg on the 6th.

According to Cepea researchers, the pressure came from lower external demand, especially from China, and the evolution of the harvest in South America. Furthermore, the low volume of oilseeds traded from Brazil's 2021/22 harvest and the lack of space in warehouses in large producing regions of the country have been generating expectations of greater supply in the short term.