Prices in the state diverge from trends in the external market.
Soybean prices increased in Mato Grosso on Tuesday (October 29). According to the Instituto Mato-grossense de Economia Agropecuária (Imea), the average price in the state on Tuesday was R$ 136.59 per 60-kilogram sack, up 0.81% from the previous day.
The price rise occurred even with the acceleration of planting. The institute reported that soybean planting for the 2024/25 harvest advanced 30.65% in the last week, reaching 55.73% of the projected area. “This weekly increase is the largest recorded in the institute’s historical series, reflecting favorable climatic conditions, producers’ concerns about the second harvest window, and the high capacity of the machinery park in the state,” the report explained.
Despite this, the pace remains 14.32% behind last year’s harvest and 6.59% below the average of the last five years.
The Instituto Nacional de Meteorologia (Inmet) projects over 100 millimeters of precipitation for the Midwest in the coming days, which may continue to support the progress of planting.
In the external soybean market, prices fell on the Chicago Board of Trade. November contracts closed down 0.90% on Tuesday, priced at $9.6525 per bushel.
In other regions of Brazil, a survey by Scot Consultoria shows soybean prices at R$ 132 in Luís Eduardo Magalhães (BA); R$ 132.50 in Rio Verde (GO); R$ 126 in Balsas (MA); R$ 137 in Triângulo Mineiro; and R$ 141 in Dourados (MS). At the ports, soybeans are priced at R$ 144 in Santos (SP), R$ 142 in Rio Grande (RS), and increased to R$ 144.50 in Paranaguá (PR).
