Soybean prices rise in the domestic market due to strong external demand and erratic weather in the South.

Domestic soybean prices rose last week. Researchers at Cepea indicate that this movement is due to strong external demand, resulting from the greater attractiveness of export premiums in Brazil, and the cautious stance of Brazilian producers, especially those in the South, given the uncertainties related to irregular rainfall.

In the field, collaborators consulted by Cepea report reduced productivity in areas affected by drought. On the other hand, recent rains have benefited crops still under development in Paraná, Santa Catarina, and Rio Grande do Sul.

According to Conab, as of February 14th, the national soybean harvest had reached 24.7% of the area, below the 25.5% recorded in the same period last year and the 27.1% average of the last five years.