06.
01.17
12:59

Soy bean: High premiums in Brazil hinder tickets

The premiums for soybean exports from Brazil have almost doubled since a year due to the stronger exchange rate of the reals. This is an obstacle for export, because the market does not accept such high prices.
The news service of Reuters has observed a premium of 57 CT/bu on the CBoT March date for February 2017, a year ago, a premium has been paid to this date 30 ct / bu.
Soybean prices are 24% below the highest price in the Brazilian currency real currently in 2016. The currency's exchange rate could improve since beginning of 2016 to 30% against the US dollar.
With a smaller premium farmers would offer currently nothing, so the Director of FCStone. Far fewer pre-sales from the coming harvest recorded in the average of previous years, there are 34% to this appointment, even 40% in the previous year. Farmers are still waiting for better prices.
Conab harvest estimate for soybeans 2016/17 of the Ministry is currently 102,45 million tonnes, 7% more than the previous year. In some early growing regions, the harvest has already begun and the first sets might be ready in January export ports. The competition among the dealers to the first volume is very large, and they hope that the premiums go down soon.
Once the crop takes drive, the farmer will offer more beans. In February and March not only you should come price, but also the premiums under pressure, so the FCStone Chief.

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