EN 
PT_BR 
The global soybean market continues to be influenced by the performance of soybean oil, which registered significant price increases throughout May and continues to support soybean prices. In the United States, the rise in prices of the derivative has been driven mainly by strong demand from the biodiesel industry, a scenario that has also been altering the profit margins of processing companies.
Photo: Disclosure
According to analyses by the Center for Advanced Studies in Applied Economics (Cepea), soybean oil has gained greater relevance in shaping the results of the North American crushing industry, reflecting the growth of the biofuel sector and the increased demand for the product.
In Brazil, however, the positive effects observed in the international market are still limited. Researchers at Cepea highlight that the pass-through of external price increases faces obstacles in export premiums and weakened domestic demand, factors that reduce the impact of international price increases on domestic soybean prices.
Photo: Claudio Neves
Soybean meal also saw price increases in the international market. The price support is related to expectations of increased international demand for the US product, strengthening the global market for this derivative.
In Brazil, the behavior was different. Throughout the week, soybean meal prices fell due to the slower pace of negotiations. According to Cepea, a large portion of domestic consumers are already well-stocked and are only making occasional purchases to replenish inventories, which reduces demand pressure and limits the support for prices in the domestic market.
The contrast between markets reinforces the influence of regional factors in the pricing of soy derivatives, even in a context of international appreciation driven by demand for biofuels and prospects for increased global consumption.
