The soybean market in Paranagua had a busy day with at least seven confirmed deals, but premiums have slowed amid forecasts of rain for South America.
The Brazilian soybean harvest should be 134.2mn tonnes(t), estimated on Thursday by Agroconsult. In the forecast
released in September the consultancy expected production of 144.3mn t, but the volume was revised because of
losses already considered irreversible in crops in Parana,Rio Grande do Sul and part of Mato Grosso do Sul.
But withslightly favorable weather forecasts for Argentina and south-ern Brazil, soybean prices fell in the CBOT and the premiums in the paper market interrupted the strong rise that had been registered in recent days. Seven deals were confirmed: two for February withpremiums of 55¢ and 57¢/bu over CBOT, two for March with50¢ and 54¢/bu, one for April with 52¢/bu premium and twofor June/July with 78¢ and 80¢/bu premiums over CBOT.