Soybeans: producers pull back and liquidity is reduced
The soybean market is weaker in Brazil, both the spot market and forward contracts for 2016. According to researchers at Cepea, this is because producers have pulled back in the expectation that prices will continue to rise this off-season, based on climate conditions in the US and low domestic stocks. On the buyer side, demand, mainly for export, has fallen in recent days due to the high volume of rain that has prevented the shipment of the grain in the ports of Santos (SP) and Paranaguá (PR), the main Brazilian gateways.
Information provided by Cepea