Slowdown of Brazilian Soybean Transactions
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Dallas [2011-05-20]
The transactions of Brazilian soybean market slow down in February 15, because soybean and soybean oil market becomes weakness in Chicago Board of Trade (CBOT).
A broker of Rio Grande do Sul said some farmers had a strong mind to store goods. Soybeans are currently growing well in Do Sul. Analysts predict production of bean is likely to reach 11,000,000 tons in Rio Grande do Sul, exceeding the previous year's level.
A processing factory in Rondonopolis offers for $25.76 per bag of Brazil's soybean, and each bag is 60kg. It fell by 4.4% than a week ago.