Spot soybean market gains strength with heated demand at ports.

Trading involving soybeans in the spot market heated up last week, according to a survey by Cepea.

According to the Research Center, the boost came from increased demand to complete shipments at Brazilian ports and new estimates from Conab indicating a reduction in carryover inventory compared to what was projected in the previous report.

This scenario reinforced the upward trend in export premiums in Brazil and raised domestic prices, as explained by researchers at Cepea.

Brazilian shipments for the 2024/25 crop year (which ends at the end of this month) have been revised by Conab to a new record of 106.97 million tons, an increase of 0.3% compared to the previous report.

According to data from Secex, 98,88% of this volume had already been shipped by December 5th.