Slow Start to 2026 for Brazilian Soybean and Orange Markets Amid Climatic and Demand Challenges
Brazil's soybean and orange markets face slow trading and subdued demand in early 2026, compounded by climatic challenges affecting crops.
- • Soybean market activity is low with buyers awaiting lower prices from February.
- • Soybean internal prices mostly stable or slightly declining across key regions.
- • USDA projects higher global soybean stocks for 2025/26, with mixed futures performance.
- • Orange sales are slow with industries cutting back milling due to fruit scarcity and weak demand.
- • Climatic concerns persist with temperature drops but inadequate rainfall affecting crop outlooks.
Key details
The start of 2026 has seen a notably slow pace in the Brazilian agricultural markets for both soybeans and oranges, driven by weak demand and climatic concerns. According to analyst Rafael Silveira, the soybean market experienced low trading activity with only sporadic deals, as buyers hold off for more competitive prices expected from February onward. Internal prices largely remained stable or slightly declining in regions like Passo Fundo (R$134.00) and Santa Rosa (R$135.00), while Cascavel saw a decrease from R$127.00 to R$125.00. The global soybean supply remains large, with the USDA forecasting an increase in ending stocks for the 2025/26 season, now projected at 123.1 million tons globally, up from 122.4 million in December. Futures contracts in Chicago showed mixed reactions, balancing high oil prices and strong Chinese demand against the abundant supply. Meanwhile, orange sales in Brazil's fresh market also slowed sharply, with industries reducing or ceasing milling activities due to scarce new fruit batches and weak industrial demand. Cepea data reflects some price reactions but overall sluggish buying. Industry concerns continue over the climatic conditions; despite recent cooling temperatures, insufficient rainfall threatens crop development for the 2026/27 season. These combined factors paint a cautious picture for key agricultural commodities as supply constraints and demand softness dominate early 2026 market dynamics in Brazil.
This article was synthesized and translated from native language sources to provide English-speaking readers with local perspectives.
