Soybean prices in Brazil are US$ 180 higher than Argentina’s; both are more expensive than US pricesFeb, 08, 2022 Posted by Gabriel Malheiros
On Monday, February 7, soybean prices in the Argentine market were US$ 400 per ton, an increase of US$ 10 over last Friday’s prices. Compared to the Brazilian situation, the difference was US$ 180 as nominal prices reached US$ 580 on Monday after having increased US$ 15 since Friday.
Both Brazilian and Argentine soybean prices were much higher prices than those from the United States, showing how world importers are detached from that market.
According to analyst Vlamir Brandalizze, prices are higher in Brazilian ports due to crop failures which, in turn, explains the difference in domestic prices compared to Argentina, as shown by studies conducted by the Rosario Stock Exchange.
With more soybeans being harvested in Brazil, the remaining grains from the 2021-2022 crop have dropped below 130 million tons, and the numbers are being revised downwards. Some forecasts indicate 125 million tons instead of the 144 million tons previously stated or the 136 million tons registered in the 2020-21 season.
Argentina, which has suffered as much as Paraná and Rio Grande do Sul from the drought, is forecasting production at 42 million/t, compared to 47 million yielded in the previous campaign, according to Buenos Aires Grain Exchange.
Recent rains have improved the production profile even further.
Source: Money Times
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