EN 
PT_BR 
Soybean prices rose on the Chicago Board of Trade throughout March, amid strong volatility in the international market. Despite ample global supply, futures contracts approached their highest levels in almost two years at the beginning of the month, driven by the appreciation of vegetable oils, the rise in oil prices, and expectations of increased demand from China.
Photo: Press release/Aprosoja MT
As the weeks passed, however, the movement lost momentum in the face of confirmation of a record harvest in Brazil, estimated at around 180 million tons. Even so, the price of soybeans in Chicago ended March with an increase of 4.3%, to US$ 11.72 per bushel, according to data from Itaú BBA Agro Consulting.
In the first ten days of April, the market remained volatile, but with a more pressured trend. The scenario reflected the ample global supply and the weakening of exports from the United States, which face strong competition from Brazil in the international market.
In Brazil, prices followed the upward trend observed in Chicago, but in a more moderate way. In Sorriso (MT), soybeans appreciated by 1.8% in March, reaching R$ 101.40 per sack. Rains in some regions delayed the pace of the harvest, without a significant impact on production.
Photo: Courtesy of the Government of Bahia
In early April, prices registered a slight increase, supported by improved export premiums. On the other hand, the appreciation of the real against the dollar limited more significant gains in the domestic market.
Brazilian exports continued at a rapid pace. In March, shipments totaled 14.5 million tons, according to the Secretariat of Foreign Trade (Secex). In the accumulated total for the year up to March, the country exported 23.5 million tons of soybeans, a volume 6% higher than that recorded in the same period last year.
