# Brazil Sees Soy Basis Weaken

> Brazilian July soybean basis at Paranagua fell to 74 US cents per bushel on May 25, about half the level of a month earlier, as US and China eased trade rhetoric. Chinese buyers returned to the US market and bought at least 132,200 metric tons for 2018-19 shipment.

- Date: 2018-05-29 · published 2018-05-29T12:00:00.000Z
- Category: trade · region Brazil · magnitude medium
- Page: https://feedsoft.ai/events/65057-brazil-sees-soy-basis-weaken
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

Lower Brazilian premiums reduce the export advantage of Brazilian beans, while renewed Chinese buying supports US soybean demand.

## Read by commodity

- SOY: bullish ▲
- USDBRL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2021-09-01 | [Brazil soy farmers hoard crops, betting prices will rise](https://feedsoft.ai/events/45117-brazil-soy-farmers-hoard-crops-betting-prices-will-rise.md) | -2.2% | -1.2% |
| SOY | 2019-08-07 | [U.S.-China trade war boosts Brazil local soy prices, spurs deals](https://feedsoft.ai/events/11473-u-s-china-trade-war-boosts-brazil-local-soy-prices-spurs-deals.md) | +2.9% | +1.7% |
| SOY | 2020-10-14 | [Soybeans rise on Chinese buying, dry Brazil weather \| Financial Post](https://feedsoft.ai/events/11786-soybeans-rise-on-chinese-buying-dry-brazil-weather-financial-post.md) | +1.9% | +9.0% |
| SOY | 2023-01-12 | [Brazil making 'atypical' soy sales to Argentina, Anec says \| Reuters](https://feedsoft.ai/events/37809-brazil-making-atypical-soy-sales-to-argentina-anec-says-reuters.md) | -0.0% | +0.3% |
| SOY | 2022-12-08 | [China’s Brazilian corn haul surges; U.S. soy hopes briefly rise](https://feedsoft.ai/events/14877-china-s-brazilian-corn-haul-surges-u-s-soy-hopes-briefly-rise.md) | +0.7% | +2.0% |
| USDBRL | 2023-03-21 | [China soybean prices plunge amid weaker local demand, higher Brazil farmer sales](https://feedsoft.ai/events/36942-china-soybean-prices-plunge-amid-weaker-local-demand-higher-brazil-farmer-sales.md) | -0.3% | -5.8% |
| USDBRL | 2023-07-25 | [Brazil is pushing the US out of world’s biggest soybean market](https://feedsoft.ai/events/35070-brazil-is-pushing-the-us-out-of-world-s-biggest-soybean-market.md) | +0.2% | +5.4% |
| USDBRL | 2018-10-12 | [AgriMarketing.com - Brazil's Supply Of Soybeans Is Running Low](https://feedsoft.ai/events/62630-agrimarketing-com-brazil-s-supply-of-soybeans-is-running-low.md) | -1.4% | -0.1% |

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/Ag/blogs/south-america-calling/blog-post/2018/05/29/brazil-sees-soy-basis-weaken

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.