Brazil sets record soybean exports in April amid large harvest and strong Chinese demand

Brazil set a new monthly soybean export record in April 2026, shipping 16.75 million tonnes to international markets. The increase was driven by a record soybean harvest and improved logistics. For comparison, exports totaled 14.5 million tonnes in March and only 7.1 million tonnes in February.

According to the US Department of Agriculture (USDA), Brazil could export a record 115 million tonnes of soybeans during the MY 2025/26, with total production estimated at around 180 million tonnes. The country continues strengthening its position as the world’s leading soybean supplier.

China remained the largest buyer of Brazilian soybeans. Shipments to China reached a record 11.6 million tonnes in April, accounting for 69% of Brazil’s total soybean exports for the month. The sharp increase was partly linked to delayed shipments in March caused by adverse weather and stricter Chinese inspection procedures. Following consultations between Brazilian and Chinese officials, those issues were reportedly resolved.

The European Union ranked as the second-largest destination for Brazilian soybeans, importing 1.35 million tonnes in April. Spain and the Netherlands were the leading EU buyers. Significant export volumes also went to Türkiye, Iran, Thailand, Algeria, Pakistan, and Mexico.

Despite record export volumes, domestic soybean prices in Brazil remained lower than last year. Producer prices in key agricultural states were around 6% below year-earlier levels in April due to the large harvest and abundant market supply. However, the appreciation of the Brazilian real partly offset price pressure and supported dollar-denominated export prices.

Analysts note that Brazilian soybeans are still cheaper than US soybeans, although the price gap between Brazilian and American supplies has narrowed in recent months. The strengthening of Brazil’s currency has been supported by high interest rates and strong capital inflows linked to commodity exports.

Meanwhile, the United States continues to lose ground in the global soybean market. US exports remain below last year’s levels due to weaker Chinese demand. Market participants are watching upcoming US-China talks closely, as potential agreements on additional soybean purchases could influence the global market balance later this year.

Tags: soybean, USA, China, Brazil, EU