Anec raises its May soybean export forecast

Soybean exports from Brazil are expected to reach 10.6 million tonnes in May, the National Cereal Exports Association (Anec) estimated on the 10th, increasing the forecast by 2.6 million tonnes compared to last week’s projection.

The number obtained from the line-up of vessels still represents a 25.35% drop compared to the same month in 2021.

Shipments from Brazil, the largest producer and exporter of soybeans, started stronger this year. However, from March onwards, it began to work in a downward trend due to the recurrent drought-derived losses in the south.

See below the track record of Brazilian exports of soybeans from January 2020 to March 2022. These data are from Datamar’s DataLiner.

Soybean (HS 1201) Exports from Brazil | Jan 2020 – March 2022 | WTMT

Source: DataLiner (click here to request a demo)

As for soybean meal, the weekly projection went from 1.679 million tonnes to 1.919 million, surpassing the volume of 1.7 million tonnes exported by the country in May last year.

On a different note, wheat export expectations rose from 69,500 tonnes in the previous week to 103,719 tonnes.

In the fifth month of last year, there were no wheat shipments at all.

Source: Money Times

To read the full original article, please go to:

https://www.moneytimes.com.br/anec-eleva-projecao-de-exportacao-de-soja-do-brasil-em-maio-ve-queda-de-253-ante-2021/

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