SAFRAS reduces Brazilian soybean exports to 80.5 mln tons in 2022
The cut in the Brazilian soybean production to 127.2 mln tons naturally forced an adjustment in demand at national level. The lower production ended up hindering exports, which should fall to 80.5 mln tons in 2022, down 7% from 86.1 mln tons shipped in 2021. The forecast is part of the picture of Brazilian supply and demand, updated by SAFRAS & Mercado on February 25.
Even with the cut in exports, ending stocks must fall to 2.37 mln tons, down 59% from the end of the previous cycle, with reserves being below the 2020 season. This tight supply justifies the market firmness.
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