Anec lowered its estimate of Brazilian soybean exports in July

Brazil can sell about 8.8 million tons of soybeans to foreign markets in July. The forecast was made by the analysts of Anec Association, who lowered the exports estimate by 1.7 mln tonnes compared to the previous one.

At the same time, the updated figure may exceed the result of July 2022 by almost 2 mln tonnes, but will be lower than the results of June by 5.4 mln tonnes.

“In the ports of the country, 2.32 mln tonnes of soybeans were prepared for shipment in the period from July 16 to July 22, compared to 1.78 mln tonnes a week earlier,” the report said.

In addition, Anec raised the July estimate of Brazilian soybean meal by 100 thsd tonnes to 2.6 mln tonnes, up from 2.3 mln tonnes in June and 2.1 mln tonnes in July 2022.

On the contrary, the estimate of South American corn sales was lowered by 100 thsd tonnes to 6.8 mln tonnes (1.2 mln tonnes a month earlier, 5.6 mln tonnes a year earlier).

Tags: export, Brazil, soybean