Exchange rate supports soy derivatives in the Brazilian market.

The markets for bran and oil of soy Prices in Brazil and abroad followed different paths in August. While the expected increase in supply pressured prices in Chicago, exchange rates and higher costs... soy Grain prices and demand supported domestic prices. The average price of soybean meal on the Chicago Board of Trade was US$316.40 per ton, down 0.9% compared to July, according to data released by Itaú BBA's Agro Consulting firm.

Expectations of increased crushing in the United States, Brazil, and Argentina are boosting global availability of the byproduct and limiting prices. The resumption of Argentine exports has also increased competition. International demand, however, prevented more significant losses. In Brazil, the trend was the opposite. Soybean meal traded in Rondonópolis reached R$ 1,703 per ton, a monthly increase of 8.3%.

In Chicago, soybean oil averaged 68.9 cents per pound, a decrease of 3.41 TP4T. Competition with other vegetable oils, such as palm, canola, and sunflower, increased the pressure. In Mato Grosso, the oil reached R$ 6,029 per ton, an increase of 2.51 TP4T. Exchange rates, raw material costs, and demand from the biodiesel industry supported the market.

For 2026/27, global production of the main vegetable oils could reach a record 245.4 million tons. Despite this, global stocks are expected to remain virtually stable, close to 30.8 million tons, keeping the market attentive to consumption patterns.