Brazil increases soybean meal shipments in September.

The record volume of soy Brazilian exports in September helped to contain the fall in domestic prices, even in the face of a less favorable exchange rate scenario for exporters. The country shipped 7.36 million tons of the grain in the month, according to data from the Secretariat of Foreign Trade (Secex), while the appreciation of the real against the dollar put pressure on domestic prices.

This performance represents the largest volume of soybeans ever exported in a September. Although shipments decreased by 25% compared to August, the reduction reflects the usual behavior of foreign sales at this time of year.

The movement in the international market was also reflected in soybean meal exports. Shipments of the derivative reached a new record for September, exceeding the August result by 10% and the volume recorded in the same month of 2025 by 18.5%, according to Secex.

Trade performance gains relevance in light of changes in the relationship between the real and the dollar. According to researchers at the Center for Advanced Studies in Applied Economics (Cepea), the appreciation of the Brazilian currency tends to make domestically produced soybeans less competitive compared to those produced in the United States.

Despite this effect, the external marketing of soybeans and soybean products accumulated high volumes between January and September. According to Cepea's assessment, this movement helped to limit the declines observed in Brazilian prices.

The data therefore show a market influenced by distinct forces: on the one hand, the exchange rate reduces the competitiveness of domestic products; on the other hand, the volume of exports supports prices, mitigating pressure on the domestic market.