Foreign media: this country is closely following the Chinese soybean market

Pubdate:2019-08-12 18:54  Writer:admin  Source:ANDI

  
  Brazilian soybean prices hit a two-month high in real terms recently, foreign media said.
  
  Soyabean prices in sorisu, mato grosso, Brazil, closed at 62.31 reais (110 yuan) a bag on August 7, up 0.81 percent from the previous day and the highest level since June 18, according to Cepea/Esalq, a price research center.
  
  The premium for baranagua port soybeans over Chicago futures rose to $1.35 on Aug. 7, the report said.
  
  Soybean premiums at Brazilian ports have risen 70 per cent since June 16 to hit their highest level since November 2018, according to Rufus.
  
  Grain analysts at Cepea/Esalq said Chinese demand was likely to increase.
  
  According to Aprosoja, the producers' association, Brazilian farmers are seizing the opportunity to sell soybeans and are also seeking a deal to sell the next crop, which will begin planting next month.
  
  Brazil's soybean acreage is expected to grow 2.3 percent to 36.7 million hectares, according to a Reuters poll.