Cepea, October 16, 2024 – Forecasts of rainfall in important soy producing areas in Brazil brought good expectations for players in mid-October, especially due to the limited pace of planting activities of the 2024/25 crop.
Liquidity, in turn, was low, and part of the demand was allocated to the soybean from the United States. The industry in Brazil was away from closing trades of large amounts, expecting that the possible improvement of weather conditions favors the planting of the new season, pressing quotations down.
The ESALQ/BM&FBovespa Index (Paranaguá) moved down 0.57% from September 30 to October 15, closing at BRL 140.35 per 60-kg bag on Oct. 15. The CEPEA/ESALQ Index (Paraná) dropped 0.23% in the same comparison, to close at BRL 138.70 per 60-kg bag.
CROPS – Conab indicates that soybean planting activities reached 5.1% in Brazil up to Oct. 6.
EXPORTS – Secex indicates that 6.1 million tons of soybeans were shipped in September, 24% less than in August, 4.5% down compared to September/23 and the smallest volume since January this year. Still, from January to September 2024, exports totaled 89.54 million tons, 2.6% more than in the same period last year and a record.
As for soybean meal shipments, the decrease from August to September was 15.22%, totaling 1.75 million tons. Concerning soy oil, exports amounted 81.16 thousand tons last month, downing 23.2% compared to August – data from Secex.
(Cepea-Brazil)
