CEPEA: Brazilian soybean prices in state of Paraná down 2.24% month-over-month to 45.88 reais/60-kg bag in January; exports down 31.2% to 1.012 million tons--a January record

Andrew Rogers

Andrew Rogers

Feb 3, 2012 – Centro de Estudos Avançados em Economia Aplicada (Cepea)

PIRACICABA, Brazil , February 3, 2012 (press release) – Exports of soybean and byproducts were in evidence in January. There is still low availability of the product of the new season; however, the amount of soybean shipped (slightly above 1 million tons) was a record for the month. Brazilian exporters continue to flow stocks of the previous crop, which, according to Conab (National Company for Food Supply), wrapped up 2011 at 3.9 million tons, equivalent to 5.2% of the Brazilian production in the 2010/11 season. Prices in the domestic and international markets have registered slight drops in late January; however, in general terms, the market shows certain instability and players have diverging opinions about the scenario.

In the Brazilian market, despite the sluggish pace of the harvesting activities, trades have stepped up due to the higher supply of soybean.

Brazilian players continue to follow advances of the harvesting activities in Brazil and the weather conditions in the South America. Recent rains have brought relief for producers who planted the grain later. Agents expect that, if rains continue at a good pace, the total production may not register significant losses.

In the accumulated of January, the CEPEA/ESALQ Index (Paraná state – reference for trades in the Brazilian market) for soybean downed 2.24% and closed at 45.88 reais or 26.29 dollars per 60-kilo bag on Jan. 31. The ESALQ/BM&FBovespa Index for the product delivered at Paranaguá port dropped 2.6% in the same period, and closed at 48.22 reais or 27.63 dollars per 60-kilo bag.

In January, 1.012 million tons of soybean were shipped, 31.2% lower than in December 2011, but a record for January, according to Secex (Foreign Trade Secretariat).

As for soy meal, 1.052 million tons were shipped in January, amount 7.4% more than in December 2011 and 11.1% higher than January 2011. Brazil shipped 87.6 thousand tons of soy oil in January, an increase of 16.2% compared to December 2011 and of 16.7% in relation to January 2011.

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