Soy premiums in Brazil only growFor September the Brazilian premium is US$ 0.18 higher than that of the North American Gulf

By: AGROLINK -Leonardo Gottems
Published on 07/16/2021 at 06:13h.

Soy premiums in Brazil have been constantly rising and are approaching the same values ​​in the Gulf of the United States in the last two weeks, according to the consultancy AgResource Brasil. “The values ​​here are only US$ 0.05 cheaper than the American for the closest maturities and only US$ 0.02 lower for August”, market analysts point out.

As for September, according to Consultoria, the Brazilian premium is US$ 0.18 higher than that of the North American Gulf. “This is because Brazil 'flooded' the international market with soybeans in previous months and now there is little oil on the market. But, unlike last year, the US market (which could be an option for international buyers) is also exhausted, with very low stocks”, conclude the specialists.

U.S
In the US, net sales of soy exports reached 21,700 tons for the old crop, according to Consultoria TF Agroeconomic. The result represents a 66% cooling for the week, which was within market expectations ranging from minus 100,000 tonnes to 350,000 tonnes, as USDA data showed on Thursday.

“At the same time, new crop sales reached 290,800 t in the week to 8 July, just above the lower limit of market expectations, which ranged from 200,000 t to 600,000 t. The US soybean crush in June fell to the lowest level in two years at 4.15 million tons and was well below market expectations, down 8.9% in the year, revealed the National Oilseed Processors Association ( NOPA) on Tuesday,” TF analysts conclude.

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