The soyabean harvest in Brazil is being hit by logistical problems, such as lack of storage, which have been affecting export prices, according to trade sources quoted by AgriCensus.
Chicago Mercantile Exchange (CME) futures prices for soyabeans fell by US$57/tonne for May shipment to US$495.25/tonne on 24 March, the report said.
Logistics bottlenecks were a major factor in the prices, with Paranaguá port’s average shipment waiting time reaching up to 32 days while the truck flow through the main road link into the port was still affected by landslides last month, according to the 28 March report.
Other ports were in a similar situation, with little to no capacity to store more grains in the short-term, AgriCensus wrote.
According to the logistics department of a Brazilian brokerage, “players are doing all they can to free space in their stocks, but many buyers are not even accepting offers any more due to the lack of space in their storage”.
As a result, soyabean prices in Brazil’s domestic hubs were also falling, the report said.
With the ongoing harvest still pressuring stocks, “the price doesn’t have much importance, as the logistic and cash needs are forcing farmer’s cooperatives and traders to sell their beans,” Aldo Lobo, market analyst from the Brazilian brokerage Granopar, was quoted as saying.
The national harvest is 69.1% complete – well behind the typical pace of 75.8% at the same point last year – according to the most recent update from Brazil’s government agency Conab.