Soybean prices lose momentum after gains recorded in September.

Export premiums helped to contain the fall in prices of soy In Brazil in recent days, prices have risen even in the face of the devaluation recorded in the international market. According to Cepea, this movement limited the pass-through of the external decline to domestic prices.

Pressure on international prices occurred after a period of significant appreciation in September. According to the Research Center, the progress of the 2026/27 harvest in the Northern Hemisphere contributed to the change in direction of external prices for the soybean complex.

In the Brazilian market, activity also lost momentum. Liquidity in the spot market decreased due to the sharp external devaluation observed after tariffs on soybeans were left out of negotiations between the United States and China.

Despite this pressure environment, export premiums remained stable in the country. As a result, the reduction in international prices was not transmitted to domestic prices with the same intensity.

This scenario interrupts, at least in recent days, the upward trend observed in September. In Brazil, however, the stability of export premiums acted as a factor of resistance to pressure from the external market.