EN 
PT_BR 
The market of soy The country faces a scenario of price pressure in the short term, despite still high prices in Brazil. According to an analysis by TF Agroeconômica, the current situation calls for caution in marketing and protection of margins, given the progress of the harvest in the United States and uncertainties about new Chinese purchases.
For farmers, the advice is to sell part of the available production and protect another portion through hedging operations when prices are satisfactory. The consultancy recommends keeping only a smaller volume exposed to potential price increases, avoiding focusing decisions on the expectation of a resumption of purchases from China.
For cooperatives, the recommendation is to encourage staggered sales before the harvest, using forward contracts and hedging in Chicago for larger positions. Daily monitoring of premiums and exchange rates is also considered essential, as is separating available and future soybean prices.
For grain traders, the priority should be the rapid turnover of stocks, paying attention to margins and protecting operations. Buying physical soybeans betting on an immediate price increase represents greater risk, which favors combining purchases with future sales or hedging.
Crushing industries can take advantage of the price declines to make gradual purchases, provided they monitor the margins for oil and meal. In feed mills, the recommendation is to replenish meal stocks during the drops, without excesses, observing the price relationship with corn.
The biodiesel sector should evaluate the cost of soybean oil in conjunction with exchange rates, industrial margins, and the competitiveness of other raw materials. In general, the consultancy considers it more appropriate to secure part of the profits at current prices, preserving some exposure to a potential recovery driven by Chinese demand.
