DEMAND TO PUSH UP PRICES OF SOYBEAN

According to Liones Severo, director of SIM Consult, the delay in Brazilian soybean shipments may cease in the coming months, and the pace is likely to be steady as early as March. More than 11 million tons are set to be shipped next month, “I believe this is not the main point for triggering surge in prices. Global demand for soy is higher than the available supply” he says. Considering the global soybean calendar, which started in October (2020), China increased its crushing by 14.5% until February. Severo points out “, China imported 100 million tons last year and is now to import 115 million”. Soybeans is expected to reach the highest price in history, given the low stock abundance this season. The market is now looking for even higher levels to call for demand rationing. The movement should not be limited to soybeans, but should be extended to other grains, such as corn and oilseeds.

Source: Notícias Agrícolas

*Translated by Ia Niani