Cepea, April 2, 2025 – The high international demand for the soybean from Brazil boosted the pace of trades in the spot market in late March. This scenario was influenced by the dollar valuation against Real, which leads commodities from Brazil more attractive to international purchasers. Moreover, soy producers were willing to trade part of the 2024/25 season in the spot market to make cash flow for the next crop.
In the partial of March (up to March 21), Brazil shipped 10.25 million tons of soybean, 59.5% more than in February – data from Secex. The daily average in the month is 25.2% higher than that verified one year ago.
However, despite the higher liquidity, the soy supply continues above the demand, pressing down quotations. The CEPEA/ESALQ Index (Paranaguá) downed 1.66% from February 28 to March 31, to close at BRL 132.19 per 60-kg bag on March 31. The CEPEA/ESALQ Index (Paraná) dropped 0.51% in the same comparison, closing at BRL 127.30 per 60-kg bag.
As for the US dollar, it closed at BRL 5.706 on March 31, for an increase of 0.58% in the last fortnight of the month.
CROPS – Conab indicated that 76.4% of the area had been harvested up to March 23, surpassing the 66.3% verified in the same period last year and the 66.2% registered in the average over the last five years.
(Cepea-Brazil)
Centro de Estudos Avançados em Economia Aplicada – CEPEA-Esalq/USP
