Skip to content Skip to sidebar Skip to footer

Anec raises Brazil's March soybean export forecast closer to record

Logotipo Reuters

 

SAO PAULO (Reuters) - Brazil's soybean exports were estimated on Tuesday at 15.56 million tonnes in March, an adjustment of about 100,000 tonnes compared to the previous week's forecast but still slightly below the monthly record, according to figures released by the National Association of Grain Exporters (Anec).

The maximum soybean export for any month from Brazil, the largest global producer and exporter of the oilseed, is in April 2021, with 15.7 million tons, according to figures from Anec.

Anec stated that the ship schedule would even allow for larger shipments, of 16.1 million tons, a new record. However, for now it considers the volume shipped to be slightly smaller than that seen in the “line-up”.

If the forecast is confirmed, there would be an increase of around 2 million tons in Brazil's soybean exports, after smaller shipments from the country in the first two months of 2024 due to an initial delay in the soybean harvest.

Brazil is expected to export more than 100 million tons in 2025, with confirmation of a record harvest of close to 170 million tons, in addition to strong demand from China, the largest importer that is in a trade war with the United States, according to the global exporter.

Brazil's soybean meal exports in March were estimated at 2.60 million tons, versus 2.38 million tons in the previous week's projection.

If the volume of soybean meal exports is confirmed, it would beat the monthly record of 2.46 million tons registered in October last year, according to data from Anec, which indicate an increase of more than 800 thousand tons compared to March last year.

(By Roberto Samora and Gabriel Araujo)

THE MM Cereais works with the best grains on the market and also keeps you up to date with the latest news and analyses on agribusiness.
Don't forget to follow our social networks.

Access News Source