Soja
Equipe Agrinvest 
585
3
Panorama Semanal dos Fertilizantes...
Milho
Macro
Algodão
Trigo
Outros Ativos
Clima
Áudios
Vídeos
Seções
Relatórios
Cotações
Fertilizantes
USDA
Por: Eduardo Vanin
Artigo, Grãos
Publicado em: 12/03/2024 08:36
Soybean trades reported in the CFR have shown lower levels compared to last Friday. Ocean freights are higher, as are the soybean basis levels in the interior of Brazil. Agrinvest brokers reported that yesterday's trades of corn and soybeans were at higher basis levels than those seen last Friday, increasing the replacement cost Fob and CFR. The crush margin in China has turned negative, and daily sales of soybean meal are still descent, but is slowing down. Rapeseed meal futures rose today in China, following the trend of soybean meal. In some regions of China, rapeseed meal is the preferred choice. Corn futures in Brazil saw an uptick yesterday, driven by forecasts of hot weather for the next 10 days. While it is still too early for significant damage, long-term forecasts indicate a dry and hot pattern for April and May, which is critical for the safrinha. The rally aligns more with domestic bid and offer dynamics but also indicates that many are short on futures (having sold futures and bought FOB), and they will likely cover at the first signal. Despite forecasts of a drier April and May, exporters are not overly concerned about the potential heatwave for now, as good rains are forecasted for March and the corn has been planted within the ideal window. However, obtaining FOB indications has also been challenging. Traders are withdrawing spot offers from the FOB out of the northern ports and redirecting them to the domestic market. Currently, for sellers, it is more advantageous to execute their July program with corn rather than soybeans, especially for Santos corridor.
Soybean Paper MKT – Mar 11
(daily variation)
Apr -27sk (+3) vs -45sk (-10)
May -10sk (unch) vs -30sk (-5)
Feb25 -20sh (-5) vs -50sh (-10)
Mar25 -45sh (unch) vs -75sh (-10)
Apr25 -45sk (unch) vs -85sk (-10)
May25 -30sk (unch) vs -80sk (10)
Trades: no trades
2
5,00
