Brazilian soybean prices follow Chicago's trend
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Last Update: 2002-08-05
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Source: Internet
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Author: User
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Introduction: the U.S data transmission network news on August 2: according to DTN's special correspondent in Brazil, gomos said, Brazilian and American soybean farmers are closely following CBT's soybean price The income of Brazilian soybean farmers is closely related to the soybean price changes in Chicago When Chicago's soybean prices go up, Brazil's soybean farmers will sell some of them Because of the limited inventory, this is mainly to achieve a higher average price level With the devaluation of the Brazilian real against the US dollar, the income of Brazilian soybean farmers will increase The price of locally circulated soybeans in Brazil has soared by 70% Meanwhile, soybean prices in CBOT rose 19% and the Brazilian real fell 41% against the US dollar On the other hand, although most of the 2002 / 2003 soybeans have been contracted, the sales of the remaining parts are still relatively slow Now Brazilian farmers are not in a rush to sign too many long-term agreements, and they are very clear that buyers as crushers and importers will eventually pay much higher prices than they do now In recent weeks, the reference prices for payment and delivery of soybeans from March to April 2002 are as follows: US $137 per ton in the north of Mato Grosso, US $153 per ton in the south of Mato Grosso, US $158 per ton in goas and US $170 per ton in the west of Parana.
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