Brazil’s soybean exports rise in September while corn loses ground, says Anec

Brazilian soybean exports are expected to reach 6.75 million tonnes in September, according to an estimate released on Thursday (5) by the National Association of Cereal Exporters (Anec). The volume represents growth compared with the 5.16 million tonnes shipped in the same month last year but will fall short of the total exported in August.

August below expectations
According to Anec, shipments of soybeans, corn, and soybean meal last month were lower than previously projected. The association had forecast exports of up to 18.83 million tonnes for the three products combined in August, but the actual volume was 17.4 million tonnes.

Soybeans set to hit annual record in 2024
Despite the slowdown last month, Anec reiterated its projection for a record year in soybean exports. Brazil is expected to reach 110 million tonnes in 2024, well above the 97.3 million tonnes exported the previous year.

Between October and December, the association projects shipments of around 16 million tonnes, driven by the record harvest and strong demand from China.

In August, China absorbed 84% of Brazil’s soybean exports, above the four-year average of 75%. The outlook remains favorable for Brazil, as China has not yet resumed purchases of U.S. soybeans due to trade tariffs.

Corn loses ground in the international market
While soybeans gain prominence, Brazilian corn is facing challenges. Anec estimates exports at 6.37 million tonnes in September, below both the 7.3 million shipped in August and the 6.56 million recorded in the same month in 2023.

The decline is attributed to reduced Chinese purchases of Brazilian corn, even though there was some recovery in August. In addition, according to a Rabobank report, Brazilian corn has been struggling with competition from U.S. corn, which is expected to see a record harvest in 2025.

See below a history of Brazilian corn exports from January 2022. The chart was prepared with DataLiner data:

Brazilian Corn Exports | Jan 2022 to Jun 2025 | WTMT

Source: DataLiner (Click here to request a demo)

Soybean meal maintains a steady pace
Soybean meal exports are expected to reach 1.94 million tonnes in September, slightly below August’s 1.97 million tonnes but above the 1.62 million tonnes shipped in September 2023.

Even with annual growth, meal shipments also fell short of last month’s projections.

Relief for logistics in September
For this month, combined exports of soybeans, corn, and soybean meal are expected to exceed 15 million tonnes, a lower figure compared with July, when shipments surpassed 18 million tonnes. According to Anec, the reduction helps ease pressure on port logistics after months of intense activity.

Source: Portal do Agronegócio

Sharing is caring!