Soybean and Corn Exports Show Divergent Performance, According to Conab

According to the latest Logistics Bulletin from the National Supply Company (Conab), the scenario of Brazilian soybean and corn exports showed distinct contours in November 2024. While soybeans suffered from crop failure and recorded a drop in exports, corn showed greater dynamism, driven by strong international demand.

Brazil, the world’s largest soybean exporter, saw a reduction in the volume exported in 2024 compared to the records in 2023. The country exported 96.8 million tons of soybeans from January to November, compared to 101.8 million in the same period of the previous year, due to crop failure and falling international prices. This performance caused soybeans to lose the lead in Brazil’s exports to oil, according to data from the Foreign Trade Secretariat (Secex). The last time soybeans were not the leader in the country’s export revenue was in 2021, when iron ore took the top spot.

The ports in the Northern Arc, which remain the main outflow points, accounted for 35% of soybean exports in November 2024, compared to 33.8% in the same period of 2023. The Port of Santos handled 28.9% of the volume; in the previous year, this volume was 30%. The Port of Paranaguá, in turn, recorded a slight drop, with 13.9% of exports, compared to 14.1% in the same month of 2023.

The corn sector also distributes exports among the country’s ports. Through the ports of the Northern Arc, 47.2% of the accumulated movement from January to November 2024 was shipped, compared to 41.6% in the same period last year. The Port of Santos, with 41.6%, was responsible for a significant share, followed by Paranaguá (3.3%) and São Francisco do Sul (5.4%). The central corn exporting states are Mato Grosso, Goiás, Paraná, and Maranhão.

Here are the top ten Brazilian ports that exported the most corn in terms of volume. The data comes from DataLiner –  a Datamar trade intelligence product.

Corn Export Ports | Brazil | 2024 | WTMT

Source: DataLiner (click here to request a demo)

Fertilizers

The bulletin also addressed the import of fertilizers, highlighting the reduction in demand in November, in line with the completion of input applications in the fields. However, the total volume imported in the year is still significant, demonstrating the importance of this input for Brazilian agriculture.

Outlook

Conab’s Logistics Bulletin highlights the importance of the agricultural sector for the Brazilian economy. It points to a scenario of export growth in the coming years, driven by the recovery of production and the optimization of logistics chains.

For more information, visit the National Supply Company (Conab) website.

Source: Conab

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