Soy prices in the Brazilian market, as well as on the Chicago Stock Exchange, also had a volatile week, mainly with the dollar rising and falling sharply. Complementing the scenario, the quotes on the Chicago Stock Exchange marked a high limit last Wednesday (31) and closed Thursday (1) losing more than 30 points in the nearest positions.
On this Thursday, the dollar closed the day with a high of 1.49% and worth R $ 5.7143, and registers an appreciation, in the week, of 0.46%. In this session, the Brazilian currency was the one that devalued the most against the US currency. And this remains one of the main pillars of support for oilseed prices in Brazil.
+ Dollar closes up 1.49%, to R $ 5.7143
+ Real closes quarter with 3rd worst global performance and market shows lack of conviction for improvement
References rose between 0.61% and up to 3.49% in the interior of the country, in the main commercial areas, which leads prices to continue to operate above R $ 150.00 per bag. In ports, callsigns remain above R $ 170.00 and in more distant delivery positions, such as August, there are chances of prices close to R $ 180.00 per bag, up to R $ 182.00 as already reported by Vlamir Brandalizze , market consultant at Brandalizze Consulting. Buyers, he said, are looking for more product for July, August and September.
The producers, however, do not show much interest in selling more of their harvest at this moment and, for the new harvest, operations are punctual and, according to the consultant, focused on exchanges and keeping an eye on the opportunities that the market may still have. bring it further.
And although new businesses are moving more sparingly, March ends with record exports for the month of almost 13.5 million tonnes, according to Secex (Foreign Trade Secretariat) figures released on Thursday, April 1. . The conditions favored the advance of the harvest, as well as the pace of Brazilian shipments and the volume was considerable.
However, as Brandalizze explains, the total is slightly below what is necessary, as a lot of soybeans were not shipped in February due to the adverse weather. “And to fulfill everything I had planned, between February and March, to fulfill the lineups, we would have to have shipped 19 million tons, but our ports do not have this capacity. So, there will be a lot of soybeans to be shipped in April, and the total can reach 15 million tons “, he says.
In 2021, the total of soybean shipments from Brazil is 16.4 million tons, against 17.1 million last year. For 2021, the estimated total to be exported from Brazilian oilseeds is 85 million tons and the soy complex, in its entirety, should bring US $ 45 billion in foreign exchange.
At the Chicago Stock Exchange, the week was also very nervous, agitated and a good resumption of prices came following the release of the report of intention to plant with a soybean area about 1 million hectares smaller than the average of market expectations.
+ Soybeans and corn have high limit in Chicago with USDA bringing smaller than expected area
On Thursday, after the upward limit of the previous session, prices ended the day with losses of 6.25 to 34.75 points in the main contracts, with the market making part of the profits and correcting the surge in the previous session, but still digesting the latest USDA numbers.
Thus, the focus now becomes the climatic scenario for planting the 2021/22 harvest in the USA – with conditions that are favorable at this time – and in the decisions of American producers, which may still change until sowing begins effectively.
+ Climate risk in the American harvest will be closely monitored by the market, which, after a USDA report, fears supply problems
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