Soybean exports from Brazil grow 72% in March

Brazilian soybean grain exports reached a daily average of 489.1 thousand tons in the first five days of March, up 72.1% from the average of 284.2 thousand tons registered in February, amid climatic conditions more favourable for shipments. The volume shipped this month also represents an increase of 9.86% compared to the daily average of March 2019. Despite the outbreak of the new coronavirus, mainly in China, the pace of grain export has not yet been affected.

Source: UOL

Brazilian Central Bank sells $465 mn

The Brazilian Central Bank sold another $465 million on Monday, after earlier placing $3 billion spot in just one auction, in the face of extreme volatility in the markets because of oil and coronavirus. The sales in the spot market mark a change in the intervention strategy of the monetary authority, which until then had only been offering traditional foreign exchange swap contracts – which inject dollars into the future market. Last week, the Central Bank sold $ 5 billion of these assets.

Source: Reuters

B3 drops 12% due to global uncertainty

On a panic day in the global financial market, the dollar approached R$4.80, even with the Brazilian Central Bank selling the currency of international reserves. The Brazilian stock exchange, B3, fell 12%, reaching business interrupted during the morning, the so-called circuit breaker. The Ibovespa index closed the day with a decline of 12.17%, at 86,067 points, returning to the levels of December 2018.

Source: Agencia Brasil

Caixa will guarantee better credit conditions

Caixa Econômica Federal issued a statement stating that it will guarantee better credit conditions to help the country to overcome the current economic uncertainty due to the impact of the coronavirus and the oil turbulence in the markets. The statement said that the bank will guarantee the best conditions for personal and housing credit, financing for infrastructure, working capital for the construction sector and micro companies.

Source: Isto É