In September, soybean meal prices fell again on the Chicago Board of Trade (CBOT), ending the month with a drop of 1% and an average price of US$279.8 per ton, the second lowest of the year. This movement was influenced by the global increase in soybean crushing and the temporary reduction in export taxes in Argentina, which increased the global supply of the derivative.<\/p>\n
Soybean oil also followed the downward trend in Chicago, accumulating its second consecutive month of depreciation. The price fell 5.2%, to US$ 50.5 per pound, pressured by the drop in oil prices and the stimulus to Argentine supply resulting from the reduction in export taxes.<\/p>\n
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<\/p>\nPhoto: Disclosure\/OPR Archive<\/p>\n<\/div>\n
In the domestic market, the scenario was different. Soybean meal showed a slight increase in some regions, notably in Rondon\u00f3polis (MT), where the price rose 1.5%, reaching R$ 1,503 per ton. Soybean oil, on the other hand, maintained its upward trend in the state, advancing 4.3% in the month and being traded at R$ 6,489 per ton, the third consecutive increase.<\/p>\n
According to an analysis by (company\/institution name), the accelerated pace of crushing in Brazil has kept the domestic supply of soybean meal high, making it difficult to absorb the volumes produced. This increase is driven by strong demand from the biodiesel sector, supported by good margins and compliance with the B15 mandate, which requires the blending of 15% biodiesel with fossil diesel.<\/p>\n
As a result, the domestic market continues to balance excess soybean meal with strong demand for soybean oil, reflecting the different dynamics between the two main soybean derivatives.<\/p>\n<\/div>\n