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Signs of a partial resumption of soybean purchases by China from the United States have put pressure on export premiums in Brazil, according to surveys by Cepea.
According to the Research Center, contracts for shipment in 2026 returned to negative levels, a movement that had not been observed since July this year. Even so, oilseed prices in the physical market remained steady over the past week.
Brazilian sellers showed a preference for negotiating new batches with immediate delivery (spot) and long-term payment, in order to guarantee current price levels, as explained by Cepea researchers.
As for the 2025/26 harvest, Conab projects a record 177.6 million tons. In this estimate, the Company already forecasts lower productivity in the Midwest of the country, due to the possible impacts of the La Niña phenomenon. At the same time, good rainfall in recent days has brought relief and optimism to the sector.
November 3, 2025/ Cepea/ Brazil.
https://www.cepea.org.br
