Soybean - Grain hits year record
By Artur em 23/06/2009 :: Talk wiht us
During the first fortnight of June, international and Brazilian soybean (in dollar and reais, respectively) reached the highest quotations of the year, in nominal terms. The support came from the maintenance of China’s imports and crop failure in Argentina, which has driven Brazil and the United States to meet the demand.
Between June 4 and 10, the Cepea/ESALQ Index for the product delivered at Paranaguá port increased 1.27 percent, closing at 53.44 reais or 27.39 dollars per bag on Wednesday, June 10. In the same period, the Cepea/ESALQ Index (Paraná state – reference for Brazilian trading) for soybean upped 1.81 percent, at 50.73 reais or 26 dollars per bag of 60 kilos on Wednesday – both the highest prices registered this year by Cepea. However, in the following days, prices decreased slightly in the Brazilian market.
Regarding 2008/09 Brazilian crop, according to Conab (National Company for Food Supply), soybean area cultivated was 2 percent higher than that of season before, totaling 21.73 million hectares. Even so, the production dropped 4.8 percent in relation to the last crop, reaching 57.1 million tons. The lower production is linked to reduction of 6.6 percent in the productivity due to adverse weather in the Southern region of Brazil and lower investments because of inputs high costs last year.
Source: Cepea
www.cepea.esalq.usp.br
Between June 4 and 10, the Cepea/ESALQ Index for the product delivered at Paranaguá port increased 1.27 percent, closing at 53.44 reais or 27.39 dollars per bag on Wednesday, June 10. In the same period, the Cepea/ESALQ Index (Paraná state – reference for Brazilian trading) for soybean upped 1.81 percent, at 50.73 reais or 26 dollars per bag of 60 kilos on Wednesday – both the highest prices registered this year by Cepea. However, in the following days, prices decreased slightly in the Brazilian market.
Regarding 2008/09 Brazilian crop, according to Conab (National Company for Food Supply), soybean area cultivated was 2 percent higher than that of season before, totaling 21.73 million hectares. Even so, the production dropped 4.8 percent in relation to the last crop, reaching 57.1 million tons. The lower production is linked to reduction of 6.6 percent in the productivity due to adverse weather in the Southern region of Brazil and lower investments because of inputs high costs last year.
Source: Cepea
Links referenciados
Cepeawww.cepea.esalq.usp.br
www.agrosoftbrazil.com
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