Brazil’s soybean exports decline 21.5% in October

According to SECEX data from Brazil, Brazilian soybean exports have continued to decline since October, which may indicate that after months of strong growth, Brazil’s soybean export supply is beginning to shrink. From October 1-18, Brazil’s soybean exports totaled 2.93 million tons compared to 5.6 million tons for all of October last year, down 21.5% from the same period last year.

Soybean export revenue totaled $1.24 billion in October, compared to $2.93 billion for all of October last year.

Since October, the average soybean export price has averaged $424 per ton, down 19% from the same period last year.

By comparison, Brazil’s soybean exports in September totaled 6.11 million tons, down 4.5% from the previous year.

Earlier, the National Association of Brazilian Exporters (ANEC) predicted that Brazil will export between 4 million and 4 million 686 thousand tons of beans in October.

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Tags: export, Brazil, soybean