Argentina-Brazil soybean meal basis spread widens to record
he Argentina-Brazil FOB soybean meal basis spread widened to a record as weakening export demand and a shallow Parana River put pressure on Argentina’s premiums for nearby loadings.
The spread reached $20/st July 6-7, with the basis for August loading in Argentina’s Up River cargo market assessed at parity July 6 and at plus $1/st July 7 to the correspondent Chicago Board of Trade contract. In Brazil’s Paranagua paper market, the basis for the same month was assessed at plus $20/st July 6 and plus $21/st July 7, S&P Global Platts data showed.
By Jose Roberto Gomes via S&P Global Platts