June 5, 2014
Brazil's soy prices remain stable amid strong demand
Underpinned by strong demand, average prices of soy have largely remained stable in Brazil.
However, CEPEA's survey also showed small fluctuations, which might indicate shift of trends in the short term, at least until September. In the US, prices have been driven down by the faster planting pace compared to 2013 or the average over the last five years.
Ample supply of the crop in Brazil has been meeting part of the global demand, mainly due to the delay in harvesting in Argentina. However, most trades closed at Brazilian ports involve small volumes, which are to complete loads previously traded.
Trading companies are anticipating growing demand from China in the upcoming weeks, as Chinese buyers cancelled orders from the US.