Analysts recommend hedging against rising soybean prices.

THE soy The upward trend continues, but the proximity to important technical levels increases the need for protection in commercial decisions. According to analysis by TF Agroeconômica, the current moment favors strategies that transform part of the appreciation into margin, without completely abandoning the possibility of further increases.

For farmers, the main recommendation is to stagger sales. The advice is to fix a portion of the production at current prices and keep another portion open, following Chicago prices near 1,300 cents per bushel. If this level is broken with confirmation, the open portion can be increased. In case of rejection, the recommendation is to reinforce sales and hedges.

Cooperatives and grain traders should also reduce their exposure to existing inventories. The price increase improves the value of stored soybeans, but a correction could quickly erode margins. The recommendation is to gradually increase coverage, use hedging on the CBOT, monitor basis and premiums, and avoid excessive physical positions without protection. For new purchases, grain traders should consider storage, finance costs, freight, basis risk, and hedging.

In crushing industries, the focus should be on processing margins. The recommendation is to purchase soybeans in stages and protect meal and oil when margins are favorable. Feed industries, on the other hand, face the risk of combined pressure from corn and meal, reinforcing the need to cover demands over 30, 60, and 90-day periods, without concentrating purchases.

The scenario remains bullish, but with a risk of profit-taking. For the entire supply chain, the recommendation is to participate in the upside with protection, without leaving positions fully exposed to the expectation of further gains.