Soybean prices rise in Brazil, reaching their highest level since April 2023.

The price of soy Prices have gained momentum in the Brazilian market in recent days, driving Cepea's main indicators to their highest daily nominal levels since April 2023. According to data released by Cepea, the price increase is occurring amidst rising purchases in Brazil and abroad, while producers and other sellers reduce the supply of lots in the spot market.

The movement brings together pressure from different fronts. In the international market, China maintains strong demand for the oilseed. Within the country, Brazilian industries have increased purchases with the aim of replenishing stocks and securing raw materials for the coming periods, according to Cepea.

With buyers more present, immediate availability encountered an additional obstacle: the reduced willingness of sellers to close deals. According to the Research Center, this combination of firm demand and restricted supply favored higher prices and led the CEPEA/ESALQ Paranaguá and CEPEA/ESALQ Paraná Indicators to their highest daily nominal levels in more than three years.

The more cautious stance of sellers is also linked to doubts about the size of the global supply in the 2026/27 crop year. Researchers at Cepea point out that the potential effects of El Niño increase uncertainties regarding global production, a factor that reduces interest in negotiating volumes at this time.

The concern is not limited to the Brazilian market. According to Cepea, uncertainties surrounding supply also supported international soybean prices, a movement that ended up reinforcing the price increases recorded in Brazil.

With strong external demand, more active domestic industries, and sellers restricting deals, the Brazilian market began operating under greater competition for available lots. The result was an acceleration of prices and a renewal of the highest nominal levels observed since April 2023.