International demand drives soybean meal trading in Brazil.

Global demand for soybean meal increased last week, sharply raising futures prices for the derivative on the CME Group (Chicago Mercantile Exchange).

According to researchers at Cepea, the external price increase influenced soybean meal negotiations in Brazil, as it increased the interest of buyers, even those with long-term inventories, in formalizing new "frame" contracts, a type of transaction that covers medium- to long-term payment terms.

The soybean market, in turn, showed low liquidity last week, according to a survey by Cepea.

Brazilian producers maintained their focus on field activities, while remaining attentive to the water deficit, especially in regions of the Southeast and Midwest of the country.

Despite the rainfall recorded in much of the country over the past two weeks, which has allowed work to progress, officials report a need for more soil moisture.