Brazil’s soybean exports could exceed 10 million tonnes in February

Brazil’s soybean exports could exceed 10 million tonnes in February, marking a significant jump compared to January and the same period last year, according to ship scheduling data compiled by Cargonave, released this Monday (2nd).

In January, when soybean exports are traditionally lower compared to other months, shipments were estimated at 2.3 million tonnes, a high level for the month, with the country relying on stocks from the previous season.

In February, shipments are expected to benefit from the arrival of more soybeans from the new harvest, as harvesting is ahead due to the shortened crop cycle caused by drought and heat, according to analysts.

In the same month last year, soybean exports totaled 7.5 million tonnes, according to Cargonave.

Meanwhile, Brazilian corn exports are expected to decline to 774,000 tonnes, compared to 3.4 million in January and 1.9 million in February 2023, according to Cargonave.

Sources: Forbes
Click here to read the original news report: https://forbes.com.br/forbesagro/2024/02/exportacao-de-soja-do-brasil-pode-superar-10-milhoes-de-toneladas-em-fevereiro/

Sharing is caring!