Brazilian soybean meal prices have risen due to uncertainties tied to a potential strike in Argentina’s oilseed industry. Recent assessments indicate that Brazilian soybean meal is becoming increasingly sought after, as traders express concerns over supply capabilities in Argentina. This shift is reflected in pricing trends favoring Brazil’s soybean meal exports over Argentina’s.
Brazilian soybean meal has gained prominence as uncertainties loom over Argentina’s supply due to a potential strike within its oilseed sector. Recent trends show increased activity in Brazil’s FOB Paranagua market, where the spot export price for Brazilian soybean meal reached $327.38 per metric ton on February 26, compared to $323.53 per ton in Argentina’s FOB Up River market for April shipment, as reported by Platts.
In conclusion, the current situation surrounding Argentine soybean meal exports is precarious, with a potential strike affecting processing capacity and contributing to increased Brazilian meal prices. As Brazil’s crop and market conditions appear more favorable, the Brazilian soybean meal market is expected to continue outpacing the Argentine market, responding to lower supply and rising demand.
Original Source: www.spglobal.com
