Cepea, February 4, 2025 – Domestic prices of soybean moved down in late January, operating at the lowest levels since March 2024, in real terms. Decreases are attributed to the progress of the 2024/25 harvesting in Brazil, the reduction of retenciones on soy products in Argentina and to the exchange rate (USD/BRL) drop. This scenario led purchasers of the Brazilian product to be away from closing trades.
The CEPEA/ESALQ Index (Paraná) averaged BRL 129.56 per 60-kilo bag in January, the lowest since March/24, in real terms (IGP-DI Dec/24), downing 6.4% compared to the month before.
The CEPEA/ESALQ Index (Paranaguá) averaged BRL 134.62/bag in the first month of 2025, 4.6% smaller than in Dec/24 and the lowest since March/24, in real terms.
CROPS – Conab says that the soy harvesting reached 3.2% of the area in Brazil up to Jan. 26. Although activities are moving at a slower pace compared to the same period in seasons before, producers are optimistic and expecting a record crop.
(Cepea-Brazil)
Centro de Estudos Avançados em Economia Aplicada – CEPEA-Esalq/USP
