Soybean prices rise in the domestic market amid competition for grain and oil

Soybean prices have been rising since the beginning of September, according to surveys by Cepea.

According to the Research Center, the good performance of Brazilian shipments of soybeans and oil has intensified competition between domestic and foreign consumers and increased export premiums.

Furthermore, researchers explain that the appreciation of the dollar against the Real increases the competitiveness of the national product and stimulates internal negotiations.

According to Secex data analyzed by Cepea, Brazil exported 9.33 million tons of soybeans in August. Despite a 23.81 metric tonne drop compared to July—a common trend for the period—the volume was a record for the month.

In 2024 (January to August), shipments totaled 86.5 million tons, also a record.