Brazil’s soybean exports fell 16% in October

Data from the Brazilian Foreign Trade Secretariat (Secex) show that Brazil’s soybean exports declined in October, indicating that after months of strong growth, Brazil’s soybean export supply is beginning to shrink. From October 1 to October 31, soybean exports from Brazil totaled 4.71 million tons, down 15.9% from 5.6 million tons exported last October. Brazil’s soybean exports in September totaled 6.11 million tons, down 4.5% from the previous year.

• Average daily soybean exports in October were 214,000 tons, down 15.9% from the same period last year.
• Soybean export revenues totaled $2.01 billion in October, down from $2.93 billion in October last year.
• The average soybean export price in October was $427.6 per ton, down 18.3% from the same period last year.

Brazil is expected to produce a record soybean crop of 161 million tons in MY 2024/25, up 6% from last season.

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Tags: export, Brazil, soybean