Export premiums for soybeans increased last week
Soybean prices in Brazil began the week with a 1.2% increase at the Port of Paranaguá (PR). According to the Center for Advanced Studies in Applied Economics (Cepea), the benchmark price in this market reached BRL 145.82 per 60-kilogram sack, the highest recorded since December of last year. This boost also raised the month’s positive balance to 1.33%.
Fueled by strong demand from domestic crushing industries, soybean trade remains robust in Brazil. Cepea researchers noted that this demand has driven up the export premiums for soybeans in the country over the past week.
However, the recent rise in domestic prices was tempered by the progress in the 2024/25 crop planting in South America.
After a slow start to the planting season, sowing is now picking up due to improved weather conditions. As of November 3, the National Supply Company (Conab) reported that 53.3% of the national planting area was sown, compared to 48.4% at the same time last year.
Meanwhile, on the Chicago Board of Trade, soybean futures began the week in decline. January contracts fell by 0.78% to USD 10.2225 per bushel in yesterday’s trading session.
Across other regions in Brazil, Scot Consultoria reported the following soybean prices per sack: BRL 133 in Luís Eduardo Magalhães (BA); BRL 136 in Rio Verde (GO); BRL 129 in Balsas (MA); BRL 138.50 in the Triângulo Mineiro; and BRL 141.50 in Dourados (MS). At the ports, soybeans are priced at BRL 144 in Santos (SP) and BRL 145 in Rio Grande (RS).
