Activity was moderate this week with exporters in the market to cover more immediate needs. Demand remains subdued with overseas buyers more focused on nearby needs and postponing the forward purchases to await better opportunities.
Internal prices continue to show stability with better qualities hovering around R$ 450,00. Differentials also stable at levels that buyers do not consider attractive to allow better volumes.
Rains have let up this week, however November is ending up with above average rainfall data. Favorable conditions for development of next crop so far.
Currency has weaken to a 3,80 / 3,90 range
As you can see below, exports continue at strong pace.
November shipments according to Cecafé until 29th:
Emission 3.723.426 4.9%
Effective 2.622.867 5.5%
Wishing you a nice weekend
Terra Forte Trading Desk
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