Brazilian Soybean Market
In recent discussions on Monday, the Brazilian soybean market demonstrated stability and a stronger performance. According to Safras Consultoria, amidst the rising dollar and the declining Chicago Board of Trade (CBOT), soybean prices exhibited confusing dynamics. Despite challenges in generating quotations throughout the day, prices fluctuated towards an upward trend from a stable condition.
- Passo Fundo (RS): Prices for a 60-kilogram bag rose from 122.00 R$ (22,14€)to 123.00 R$ (22,32€).
- Missões Region: Prices per bag increased from 121.00 R$ (21,96€)to 122.00 R$(22,14€).
- Rio Grande Port: Prices per bag climbed from 128.50 R$ (23,32€) to 129.00 R$ (23,41€).
- Cascavel, Paraná: Prices per bag surged from 121.00 R$ (21,96€)to 122.00 R$(22,14€).
- Paranaguá Port (PR): Prices escalated from 129.00 R$ (23,41€) to 130.00 R$ (23,59€).
However, in some regions:
- Rondonópolis (MT): Prices remained at 116.00 R$ (21,05€)per bag.
- Dourados (MS): Prices stayed at 115.00 R$ (20,87€)per bag.
- Rio Verde (GO): Prices rose from 113.00 R$ (20,51€)to 114.00 R$ (20,69€)per bag.
Chicago Market
Contrary to Brazil’s trend, soybean futures contracts at the Chicago Board of Trade (CBOT) closed with lower prices on Monday. Weak demand for American soybeans, coupled with the competitive nature of South American products and the performance of other markets, exerted pressure on Chicago. The international decline in oil prices and the strengthening of the dollar against other currencies further diminished the competitive edge of American export products.
- North American Oilseed Processors Association (NOPA) reported an increase in soybean crushing operations from 186.194 million bushels in the previous month to 196.406 million bushels in March, surpassing market expectations.
- According to a weekly report by the United States Department of Agriculture (USDA), soybean export inspections for North America totaled 432.905 thousand tons in the week ending on April 4, down from the previous week’s 491.872 thousand tons.
Futures Market
Soybean futures contracts for May delivery closed at 11.58 1/4 U.S. dollars per bushel, marking a decrease of 15.75 cents or 1.34%. The July position was established at 11.72 U.S. dollars per bushel, reflecting a decrease of 14.75 cents or 1.24%.
In other commodity markets
- May soybean meal contracts closed at 338.50 U.S. dollars per ton, marking a decrease of 5.90 U.S. dollars or 1.71%.
- May crude oil contracts closed at 45.47 dollars per barrel, down by 0.42 cents or 0.91% against the dollar.
Exchange Rate
The commercial dollar session concluded with a 1.19% increase, trading at 5.1826 R$ for sales and 5.1806 R$ for purchases. Throughout the day, the North American currency fluctuated between a minimum of 5.1039 R$ and a maximum of 5.2149 R$.