Surveys by Cepea show that domestic soybean prices rose last week, reflecting not only the growing competition between Brazilian buyers (especially for domestic processing) and international buyers, but also the appreciation of the currency (US$/R$). In July (until the 28th), Brazil shipped 10.44 million tons of soybeans, with the daily average of shipments exceeding that of July 2024 by 12.4%. The data, released by Secex and analyzed by Cepea, show strong foreign demand, given the need for trading companies to complete shipments at Brazilian ports. According to the Research Center, this scenario has raised export premiums to their highest levels in three years. In addition, the increase in US tariffs for several countries may boost foreign demand for Brazilian soybeans.

Source: Notícias Agrícolas