Brazil's soybean export is getting stronger

Introduction: according to the local traders in Brazil, according to the local traders in Brazil, the spot export of Brazil's soybeans rose this week, but the price of local soybeans fell because of the decline of soybean prices in the international market and the rebound of the exchange rate of the local currency MVC traders said the market was quiet this week compared with the active trading last week Adriano timossi, an analyst at FNP consulting in MVC s ã o Paulo, said Brazilian farmers were hoarding because of the strength of the dollar last week This week Brazil's real returned to the bottom of the psychological barrier of three real to one dollar, which was supported by a $30 billion package of aid provided by the International Monetary Fund to Brazil Meanwhile, soybean futures on the Chicago Board of trade fell due to the improvement of weather in the Midwest of the United States The two factors, MVC, put pressure on soybean prices, so exporters offered 36 reais per bag (60 kg) for soybeans in the near future, up from a record 40 reais per bag last week MVC, according to Steve Cachia, an analyst at cerealpar brokerage in Parana, said growers are waiting for prices to rise again to sell more soybeans as a significant proportion of the crop has been sold MVC Brazilian farmers expect the USDA's supply and demand report next week to boost soybean prices in the international market The MVC Brazil real began to weaken, closing at 3.02 on Friday to US $1, because there are still many uncertainties about who will win this year's presidential election On Friday, MVC offered 23 to 27 cents per bushel for September shipments at the port of Paranagua, compared with 15 to 18 cents per bushel last week MVC's offer for September soybean meal is a discount of $21 to $21.50 per short ton on CBOT's November soybean meal price, almost the same as last week MVC's September soybean oil price is based on CBOT's November soybean oil price plus 50 to 80 points per pound, compared with 40 to 70 points last week.