Soybean prices remain firm despite record harvest

Soybean grain prices remain firm on the Brazilian market, according to surveys by Cepea.

Researchers explain that, amid the scenario of abundant supply, heated external demand has been supporting prices. However, the prices of soybean meal and oil are falling, according to the Research Center.

The depreciation of soybean oil is linked to low domestic demand, especially from the biodiesel sector. As for soybean meal, of the 32 regions monitored by Cepea, 16 have recorded the lowest prices since September/17, in real terms.

Last week, Conab adjusted national soybean production for the 2024/25 harvest to 169.6 million tons, 0.75% more than estimated in May and a record.

The volume indicated by the Company is similar to the 169 million tons projected by the USDA.