Porto Alegre, August 22, 2022 – Soybean prices fluctuated in a mixed way in Brazil’s main trading regions last week, a period marked by a few deals. The decline in futures contracts in Chicago, a reflection of the favorable climate for US crops, drove away sellers and slowed down sales. Despite this, the dollar’s rebound offset much of the negative pressure coming from Chicago, which brought mixed changes to domestic prices.
The bag of soybeans fell from BRL 184.50 to 183.50 in Passo Fundo (RS). In Cascavel (PR), prices rose from BRL 179.50 to 180.50, while in Rondonópolis (MT), they dropped from BRL 172.50 to 171.50.
At the Port of Paranaguá, the bag slid from BRL 190.50 to 190.00. Export premiums remained at firm levels, despite the weak activity registered at ports.
On the CBOT, September futures closed lower by 3.89% on Friday, at USD 14.8875 per bushel. Even with good signs of demand for the US product, the increase in the production estimates by USDA and the forecast of favorable weather for the development of US crops put pressure on prices.
The dollar partially offset Chicago’s weight in the Brazilian market. The week was marked by an increase in the US currency, which closed Friday at BRL 5.168, with an accumulated high of 1.85%. Uncertainties regarding the performance of the global economy continue to boost the dollar, a safe haven amid growing risk aversion.