CEPEA: Brazilian soybean prices in the state of Paraná down 3% month-over-month in September to 47.02 reais/60-kilo bag
October 4, 2011
– In late September, soy quotes, mainly soybean, started to reflect instabilities of the world economy more expressively. Futures contracts, in Brazil and at CME/CBOT, tumbled and affected prices in the domestic market. Values in dollar hit the lowest levels of the year at the end of the month. Prices in Real in Brazil were still below the average of the year. In some Brazilian regions, the average of September (until Sept. 29) was the highest of 2011.
Quotes decreased significantly in the international market at the end of September, due to fears regarding the world economy and to harvesting advances.
Brazilian producers were focused on oscillations in the international market; meanwhile, they have started and/or stepped up field works of the 2011/12 season. Weather conditions remained unfavorable in the Central-Western region, while favorable in the South.
In the accumulated of September, the CEPEA/ESALQ Index (Paraná state – reference for trades in the Brazilian market) for soybean dropped 3% and closed at 47.02 reais or 25.01 dollars per 60-kilo bag on Sept. 30. The ESALQ/BM&FBovespa Index for the product delivered at Paranaguá port decreased 5.8% in the same period, and closed at 48.64 reais or 25.87 dollars per 60-kilo bag. (Cepea – Brazil)