Surveys by the Center for Advanced Studies in Applied Economics (Cepea-Esalq / USP) show that soybean prices reached new record highs last week. Analysts explain that the upward movement is linked to the significant rise in the dollar against the real, which continues to favor Brazilian exports. According to them, given the strong external demand and attractive prices to sellers, producers have already sold 80% of the 2019/2020 harvest, harvested in the first quarter of this year. The commercialization of 2020/2021, which will be sown in mid-September, reached approximately 20% of the forecasted production. The volumes are record compared to those same periods of previous years, according to agents consulted by Cepea. The Esalq / BM & FBovespa indicator for Paranaguá (PR) soybeans registered a significant increase of 5.18% last week, closing the 60 kg bag at R $ 106.16 on Friday (24/4). The Cepea / Esalq Paraná indicator rose 4% to R $ 98.84 / bag. Business in the domestic corn market remains weak, due to the retraction in demand, which caused prices to drop in many markets. The researchers comment that the uncertainties facing the turbulent moment faced by Brazil and the world, due to the pandemic of the new coronavirus, have removed buyers from the market, especially those in the meat sector. The Esalq / BM & FBovespa indicator for corn (base Campinas-SP) fell 7.6% last week, quoted at R $ 47.60 a bag of 60 kg on Friday 24.

Source: Revista Globo Rural