Brazil to reduce soybean exports and increase corn in August

Brazil may sell about 8.8 mln tons of soybeans to foreign markets in August. This forecast was made by the experts of the Association of Grain Exporters Anec. They note that the current result will be 0.3 mln tonnes lower than last month’s results (9.1 mln tonnes), but 3.8 mln tonnes higher than in August 2022 (5 mln tonnes).

Besides, the experts expect the significant increase of the corn supplies abroad in the analyzed period – up to 9.8 mln tonnes from 6.4 mln tonnes in July and 6.8 mln tonnes in August 2022.

As for the exports of finished products, the sales of soybean meal are expected to reach 2.2 mln tonnes (-0.3 mln tonnes per month; +0.6 mln tonnes per year).

“During the first week of August, 2.4 mln tons of soybeans, 687.5 thsd tonnes of soybean meal and 2.2 mln tons of corn were prepared for shipment in Brazilian ports,” the materials say.

Tags: corn, export, Brazil, soybean