EN 
PT_BR 
Soybean meal negotiations intensified in the national spot market in the first half of March, especially in the Center-West region of Brazil. A portion of consumers, who were waiting for the soybean harvest to progress, showed greater interest in replenishing their stocks.
As a result, there was a strong price fluctuation among the regions monitored by Cepea. On average, the declines prevailed, with soybean meal prices falling 1.1% when comparing the partial of March with February.
Compared to March 2024, the drop is 10.7%, in real terms (IGP-DI of February 2025). The pressure is linked to projections of a greater global supply of the derivative – the USDA (US Department of Agriculture) predicts a record volume of 276.89 million tons, which could result in a record surplus of 17.35 million tons.
On the other hand, the decline was limited by estimates of an increase in global soybean meal transactions, by 2.1%, compared to the previous report, to 77.92 million tons, and in world consumption, by 0.6%, to 270.4 million tons. Imports from the European Union were revised to 16.6 million tons, 6% above the previously projected figure.
