Even in the off-season, soybean and corn prices are falling in Brazil. According to researchers at the Center for Advanced Studies in Applied Economics (Cepea/Esalq/USP), the atypical movement is due to the need for producers to free up storage space for the summer harvest.
A survey by the institution shows that soybean prices are at their lowest level since July, which does not usually happen at this time of year. The 60-kilogram sack of the oilseed was worth R$162.72 last Friday, an amount 4.9% less than the previous week, according to the Esalq/BM&FBovespa indicator based on the port of Paranaguá, in Paraná. The Cepea/Esalq indicator, based on the state average, estimates the bag at R$ 159.80, also 4.9% below the price registered a week before.
Source: Valor Econômico
