Soybean prices rise at the end of February

Soybean prices rose in Brazil at the end of February, influenced by the increase in domestic demand.

According to researchers at Cepea, although an abundant harvest is being harvested in South America, concerns about the productivity of crops that are yet to be harvested, the increase in logistics costs and the USDA's signaling of a possible smaller area with soybeans in the United States helped to sustain domestic prices.

As for derivatives, a survey by Cepea shows that the prices of oil and meal ended the month in opposite directions.

According to Cepea researchers, in the case of oil, prices rose, driven by strong demand, both for the food sector and for the biofuel industry.

As for soybean meal, there was a devaluation, which reflects the caution of buyers, who are waiting for greater progress in the harvest to negotiate new lots.