After a relatively stable October, the global soybean derivatives market reversed course in the first half of November. According to data from Ita\u00fa BBA Agro, soybean meal saw a strong increase in value on the Chicago Board of Trade (CBOT), while soybean oil continued to fall, reflecting different supply and demand scenarios in the United States and Brazil.<\/p>\n
Soybean meal rose 141% on the CBOT, reaching US$321 per ton, driven by technical shutdowns at crushing plants in the US, margins squeezed by the appreciation of the grain, and concerns about lower product availability in the short term. The international reaction boosted the domestic market: in Rondon\u00f3polis (MT), soybean meal advanced 10.81% to R$1,587 per ton in the first half of November.<\/p>\n
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<\/p>\nPhoto: Disclosure\/OPR Archive<\/p>\n<\/div>\n
Meanwhile, soybean oil maintained the opposite trend. On the CBOT, it is heading for its fourth consecutive month of devaluation, accumulating a drop of 1.8% in the first fifteen days of November and being traded at 49.3 cents of a dollar per pound. In the domestic market, the decline also prevailed: in Mato Grosso, the product fell by about 1%, to R$ 6,586 per ton.<\/p>\n
The strong reaction of soybean meal in the international market has once again increased export parity in Brazil. Through October, shipments totaled 20.2 million tons, a growth of 3.91 TP4T compared to the same period in 2024. For November, the line-up indicates a possible shipment of 2.4 million tons, a volume that could become the largest of the second half of the year.<\/p>\n
This pace of exports keeps the market heated and tends to reduce domestic supply, helping to improve the margins of crushing industries at a time of greater external demand for Brazilian soybean meal.<\/p>\n<\/div>\n