The export prices of the Argentine soybeans have been showing a much deeper dweller than that experienced by Brazil in line with the seasonality present in both nations.
This Thursday, the Buenos Aires Cereal Stock Exchange indicated that half of the national soybean surface was already collected to generate an offer of 26.1 million tons over an estimated total of 50.0 million.
The first soybean harvest has already lifted 53% of the estimated area with an average yield of 33.3 qq/ha, while in the second soybean the proportion of progress is 21% of the national surface.
After a slowdown of the registrations of affidavits of external sales (DJVE) of products of the soybean complex registered in the second half of last April –promovida for an unexpected appreciation of the exchange rate -, so far in May the agro -exporters resumed shipments of shipments.
In any case, agro -export companies continue to prioritize corn shipments to take advantage of high regional FOB prices in the absence of the Brazilian offer, so that producers who need to sell soybeans available in the current juncture are strongly punished.
While the theoretical payment of the oil industry exceeds $ 310,000/ton, this Thursday – according to the SIO grain platform – the average value negotiated by the available soybeans to factories in the northern part of the large rosary was located at $ 300,676 $/ton.
It is necessary that the main support of the ability to pay the oleaginous factories – the value of soybean oil – is liquefy progressively, which does not allow to see an auspicious panorama in this regard immediately.
Regarding the export of soybeans Condition Chamber, some companies are very active registering DJVE with a boarding in June and July, which largely explains the price differential observed in the future A3 market (former Matba Rofex). While the rosario soy contract May 2025 A3 ended today at 275.1 u $ s/ton, the July 2025 position ended at 283.5 u $ s/ton.
In Brazil today a potentially bullish fact was known, since the entity that brings together the agro -export companies (Anec) provides that in this month of May between 11.7 and 13.5 million tons of soybeans, which would give an average of 12.6 million compared to the 13.7 million in May 2024. Versus tons of 1.96 million in the same month last year.
The fact that Brazil is “taking the foot of the accelerator” in the Sojer agro -export complex is not good news for the importing nations – with China at the head – that must be supplied with the South American offer until the entry next September of the new US harvest, which, in the case of China, still has a geopolitical conditioner to resolve in the framework of the “commercial war” Trump
To reap! As of Friday, ten days are projected without rains in the Argentine Pampas area
