Soybean prices fell in the Brazilian market

Dollar devaluation weakened soybean prices in Brazil last week

03.05.2021 | 20:59 (UTC -3)
Cepea

Soybean prices fell on the Brazilian market last week. According to Cepea researchers, the pressure came from the devaluation of the dollar against the Real and the reduction in domestic demand – in this case, many industries work with the oilseed already contracted, while other units in the south of the country indicate importing the raw material from Paraguay.

On the other hand, heated external demand ended up limiting the downward movement of prices in Brazil. Between April 23 and 30, the ESALQ/BM&FBovespa – Paranaguá and CEPEA/ESALQ Paraná Indicators fell 0,68% and 1,37%, respectively, reaching R$ 179,72 and R$ 172,10/sc of 60 kg on Friday the 30th.

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