Cepea, October 18, 2021 – The weather favored soybean sowing in most Brazilian regions in the first fortnight of October. This scenario added to estimates for a higher inventory/consumption ratio in the 2021/22 season worldwide, optimism about supply and pessimism about demand pressed down the Futures at CME Group in the second week of the month.
Thus, Brazilian purchasers were not interested in closing deals in the spot market, expecting prices to drop in the coming weeks
Fonte: CEPEA
