Anec raised the estimate of soybean exports from Brazil in July

Brazilian grain exporters association Anec has raised its forecast for soybean exports in July to 9.1 million tons from 8.8 million tons last week, the association said in a report.

The new figure represents an increase of 2.1 million tons from 7 million tons of July 2022 shipments.

Anec earlier raised its July estimate for Brazilian soybean meal by 100,000 tons to 2.6 million tons from 2.3 million tons in June and 2.1 million tons in July 2022.

This year, industry experts expect that Brazil will be able to harvest a record bean crop of more than 150 million tons. This will allow the country to increase the supply of both raw materials and finished products (oil, meal) for the world market.

Brazil is currently the largest soybean producer in the world. The tropical climate and relative availability of space make this region ideal for growing not only soybeans, but also corn – however, these two crops predominantly go to foreign markets, covering most of the needs of the entire world market.

Tags: export, Brazil, soybean