Brazil's soybean export premium narrowed and local prices rose

Introduction: Sao Paulo, July 19: traders said on Friday that this week's increase in Brazil's soybean exports has narrowed, and tight supply has driven local prices up slightly A trader in Mato Grosso province said, "the market is calm and there is less volume in the domestic market." Mato groosso Province recently imposed a 12% tax rate on soybeans for export, while in the past few weeks it increased transportation costs and restricted export trade "There's a lot of opposition to this tax, because it's a serious hindrance to trade and people want to abolish it," the trader said On the other hand, the export price is driven by the international soybean price and the exchange rate is lower On Friday, the Brazilian real closed at 2.87, compared with 2.79 a week ago The August shipment price of soybeans is 5 to 10 cents higher than the contract price of CBOT, and 15 to 20 cents higher in the same period last week In August, the discount for soybean meal exports was 30 to 31 cents, compared with 24.5 to 27 cents a week ago August soybean oil prices rose 25 to 40 cents on Friday, from flat to 10 cents last week At the same time, domestic soybean prices continue to follow the trend of the international market, and continue to rise slightly driven by tight supply The southern port of Paranagua quoted 35.40 to 35.70 rials per 60 kg of bagged soybeans on Friday, up from 33.50 to 34.30 rials in the previous week Ponto Grossa soybeans in the northern Parana province were quoted at lire 33.50 to 35.00, compared with 33.00 to 34.00 a week ago On Friday, safras & Mercado, a local agricultural consultancy, predicted that Brazil's total soybean production in 2002 / 03 would reach 48.17 million tons, 16 percentage points higher than 41.47 million tons this year.