Soybean prices continue to fall, but liquidity increases, given high supply

The 2022/23 season continues to surprise soybean farmers, with record productivity in most Brazilian regions.

According to Cepea collaborators, given the high volume of the current harvest, cooperatives and cereal producers in Brazil have reported little space in their warehouses and, as a result, have encouraged soybean farmers to store a larger quantity of production.

This scenario increased liquidity in the national spot market, even with the decline in prices.

In reports released this month, both Conab and the USDA (United States Department of Agriculture) adjusted upwards their estimates for soybean production in Brazil, with respective forecasts of 153.63 million tons (with 78.2% having been harvested by April 8) and 154 million tons.