Soybean prices in the domestic market hit their highest averages of the year, with the Esalq/BM&FBovespa – Paranaguá Indicator at BRL 138.92 per bag and the Cepea/Esalq – Paraná Indicator at BRL 133.98 per 60-kilogram bag. This 2.1% and 2.4% rise over May is due to robust overseas demand and an appreciation in the currency rate. Brazilian producers preserve a portion of their harvests in the hope that the favorable exchange rate will continue to assist exports and local pricing. Brazil exported a record 64.13 million tons of soybeans in the first half of 2024, representing a 2.2% rise over the same period last year, according to Secex.
Source: O Presente Rural (*Translated by Ia Niani)
JUNE’S AVERAGE PRICES OF SOYBEAN ARE THE HIGHEST OF THE YEAR
Published On - 11 de July de 2024