Brazil Soy Premiums Jump
Renewed demand, logistic hurdles renew demand
Price premiums over Chicago futures for soybean shipments from Brazilian ports jumped in recent days on renewed demand, likely from Chinese buyers, and logistic hurdles in Brazil that have reduced grain availability at the ports, reports Successful Farming.
According to local brokers and analysts, there has been unexpectedly high demand for Brazilian beans in a period when most of the crop has been already sold, possibly due to the trade spat between the United States and China.
Brazilian producers and grain merchants are also pushing for higher values for soy and corn due to a possible rise in transportation costs.
Read the full report here.