Brazil Could Set a Record for Soybean Exports in March
The Brazilian National Association of Grain Exporters (Anec) is estimating that Brazil will export 15.56 million tons of soybeans in March, which is an increase of 100,000 tons from their prior estimate. The all-time monthly record is 15.7 million tons of soybean exports in April of 2021. Anec indicated that the March exports could reach 16 million tons citing the “line-up” of vessels.
Anes is expecting Brazil to export more than 100 million tons of soybeans in 2025 due to a record production of approximately 170 million tons and strong demand from China, which is the world’s largest importer and in the midst of a trade war with the U.S.
The volume of soybean meal exports in March is estimated at 2.60 million tons, which is up from their prior estimate of 2.38 million tons. If achieved, it would set a new monthly record surpassing the old record of 2.46 million tons set in October of 2024.
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