World soybean exports in the first half of the season updated the maximum

Last month, the global exports of soybeans totaled 13.7 mln tonnes, up 2 mln tonnes compared to February 2023, according to the analysts of OilWorld (Germany).

“The total sales volume in the first half of the current season reached the new high of 78.7 mln tonnes, up 4.4 mln tonnes from the previous year,” the experts said.

The growth was driven by the increase in oilseed supplies from Brazil and Paraguay, despite the slowdown in sales from the US and Argentina.

According to experts, the sales of soybeans from the United States to the global market have slowed down recently, while shipments from Brazil are gaining momentum amid the seasonal growth of raw material sales from farmers and competitive export prices.

“In March-April, the exports of Brazilian soybeans will increase in line with the seasonal trends,” the German analysts added.

Tags: export, soybean