PORTS HAVE DISCOUNTS IN CHICAGO FOR THE FIRST TIME SINCE 2014

On Wednesday 17, FOB soybean prices had discounts in relation to the prices traded on the Chicago Stock Exchange, for the first time since 2014. According to ARC Mercosul, some purchasers in Paranaguá (PR) were offered 5 cents/bushel down the expiration in March 2021. “Shipments maturing in March decreased more than 20 cents/bushel, accumulating a drop of more than 80 cents since October”. ARC Mercosul says the reason for this sharp drop is the logistical barriers in the rural area. “Heavy rains in the North of Brazil have caused complications in shipments. Trucks loaded with grain have faced intense traffic to unload in Miritituba (PA), where the cargo goes”. The lineup of soybeans in the ports have exceeded 19 million tons, shortening waiting time and making freight more expensive.

Source: Canal Rural

*Translated by Ia Niani