Brazil’s soybean exports halve in November 2024

Secex data show that Brazil’s soybean exports continued to decline in November, with total exports in November totaling 2.55 million tons, compared with 5.2 million tons of beans exported in November last year.

Average daily soybean exports in November totaled 134,000 tons, down 50.9% from the same period last year. Soybean export revenues totaled $1.11 billion in November, compared to $2.73 billion for all of November last year. The average export price of beans was 17% less than the same period last year.

Agrocounsult forecasts Brazil’s 2024-2025 soybean crop at a record 172.2 million tons, state agency Conab, also expects a record 166.1 million tons.

Tags: export, Brazil, soybean