Soybean trading began to heat up after an increase in export parity in the port of Paranaguá (PR), the Center for Advanced Studies in Applied Ecomonima (Cepea), Esalq / USP, said on Friday.
“This move is due to the appreciation in futures contracts on the Chicago Stock Exchange,” the institution said.
“The contracts were influenced by lower soybean acreage estimates in the United States in the 2019/20 season and by expectations that the US-China trade agreement will be signed soon.”
Buyers are approaching demand, and negotiations for shipments in March had premium offers on Chicago at 65 cents / bushel and buyer at 60 cents / bushel on Thursday. The week before, offers were at 67 cents, with buyers at 54 cents.
The analysis also points out that the prices of the 60 kg bag in the port of Paraná ranged from 80.74 reais for boarding in March and 84.92 dollars for boarding in July.
Source: Reuters
