Brazil's export market continues to receive few price indications, as demand remains scarce and uncertainty weighs further on negotiations.
The end-day levels for most offers and bids received for the Brazilian Santos/Tubarao and Barcarena/Itaqui cargo markets remained flat from Friday's closing levels, reflecting the lack of active sellers and buyers. The few price variations on Monday account for returns of previously absent market participants.
Demand for the Brazilian grain is at a halt, with importers prioritizing the cheaper Argentinian product. In the meantime, sellers maintain prices at higher levels on elevated operational costs.
Activity has quietened further following the announcement of a peace deal between the US and Iran. Market participants worry about how prices and demand will behave afterwards and prefer to keep the market at bay until there is more definition.

