Brazil to export 9.4m mt of soybeans in July

Brazil’s grain exporters’ association Anec projects soybean exports to reach 9.4 million mt in July, down 32.1% from June’s 13.9 million tons.

Last month such high figures were achieved due to increased sales of South American oilseeds in the last week of June, experts say.

Soybean shipments then averaged 660,522 tons per business day, down from the penultimate week of 717,068 tons, but 38.9% higher than the June 2022 average of 475,705 tons. Preliminary expectations are for a slightly lower figure for July.

Recall that Brazil could sell about 34 million tons of soybeans on foreign markets in the second half of 2023, an increase of 8 million tons over the same period last year.

In total, at the end of the current calendar year Brazil may export 96.3 million tons of soybeans, which will exceed the result of 2022 by 17-18 million tons.

Tags: export, Brazil, soybean