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Cepea: Soybean sack down 3.3% in Paranaguá last week as stronger real cheapens domestic soy
Brazil's soybean prices fell last week as the real's appreciation against the dollar cheapened soy on the domestic market, according to a survey by the Center for Advanced Studies in Applied Economics (Cepea). The 60-kg soybean sack averaged R$ 148.24 in the Paraná market last week, 3.8% lower than the week before; at the port of Paranaguá, the decline was milder at 3.3%, with the sack quoted at R$ 155.46. The commercial dollar fell 4.5% over the same period, based on the Central Bank rate, and the slide deepened after the first round of Brazil's presidential elections. Cepea noted that export volumes have been helping to support prices.