Soybean prices in the Brazilian market ended January weaker.

Soybean prices remained weak in the Brazilian market at the end of January. According to researchers at Cepea, the devaluation of the grain was associated with expectations of record supply in Brazil, weak domestic demand, and the appreciation of the Real against the dollar.

This exchange rate fluctuation reduced the competitiveness of Brazilian products in the foreign market, driving away some international buyers in favor of American soybeans. In the fields, harvesting activities are gradually progressing in Brazil.

However, collaborators consulted by Cepea point out that soil moisture levels remain below ideal in areas of the South, especially in later-sown crops, keeping producers on alert. Forecasts indicate more widespread rainfall in the coming days, which, if confirmed, should improve the water balance and bring relief to the crops.

According to Conab, the soybean harvest reached 6.6% of the national area by January 24th, above the 3.2% observed in the same period of the previous harvest. Mato Grosso continues to lead the work, with 19.7% of the area harvested, compared to 3.6% a year ago.