Porto Alegre, September 23, 2022 – Last week was marked by a slow pace of soybean sales in Brazil and falling prices compared to the previous period. In Chicago, contracts ended the week in negative territory, but the week was very volatile. The dollar retreated in comparison with the real, pushing growers away.
The 60-kilogram bag dropped from BRL 183.00 to 179.00 in Passo Fundo (RS); in Cascavel (PR), from BRL 183.50 to 180.00; and in Rondonópolis (MT), from BRL 173.00 to 169.00.
In Paranaguá, CIF prices fell from BRL 190.00 to 186.50, with the market feeling the impact of the exchange rate factor. Export premiums remained strong, but export activity was sluggish, reflecting a tight supply and withdrawn growers.
On the Chicago Board of Trade (CBOT), November contracts rallied early last week, reflecting signs of heated demand, dry weather in the United States, and concerns about the situation in Ukraine. As of Wednesday, the market began to lose ground, amid concerns about the global financial scenario, with the improvement of the climate in the United States and the planting in Brazil.
In the balance of the week until Thursday, the result was positive, with an accumulated appreciation of 0.59% in the November contract. In Friday’s session, the market was pressured by risk aversion due to a possible global recession. Faced with this, the November/22 position closed Friday quoted at USD 14.2575, down 1.57% over the week. The dollar accumulated a decline of 0.23%, ending the week at BRL 5.2480.
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