Brazil grain exporters lift January soybean, corn export outlook, cut wheat forecast

Brazil’s National Association of Cereal Exporters (Anec) raised its January estimate for soybean exports to 3.79 million tonnes, up 1.6% from the 3.73 million tonnes projected last week. The volume represents a jump of 237.3% from the 1.12 million tonnes shipped in January 2025.

For corn, Anec increased its January export forecast to 3.45 million tonnes, a 5.5% rise from the previous estimate of 3.27 million tonnes. The figure is 8.5% higher than the 3.19 million tonnes exported in January 2025. Soymeal exports were left unchanged at 1.82 million tonnes, up 10.8% from the 1.64 million tonnes shipped in the same month last year.

Wheat, however, saw its January export forecast cut to 329,700 tonnes, down 4.6% from the 345,700 tonnes estimated a week earlier. The volume marks a decline of 50.1% compared with the 660,700 tonnes exported in January 2025.

For the week of Jan. 18–24, the export line-up points to 676,600 tonnes of soybeans, with Paranaguá leading shipments at 266,100 tonnes, followed by Santos with 82,500 tonnes and Itacoatiara with 78,700 tonnes.

Corn loadings for the period are expected to reach 434,700 tonnes, led by Santos at 248,400 tonnes, Santarém at 76,500 tonnes and Barcarena at 53,100 tonnes.

Soymeal shipments are forecast at 467,600 tonnes, concentrated mainly at Rio Grande with 175,900 tonnes, Santos with 139,000 tonnes and Aratu/Cotegipe with 70,600 tonnes.

In the previous week, from Jan. 11–17, Brazil shipped 109,000 tonnes of soybeans, 463,100 tonnes of soymeal, 810,400 tonnes of corn and 147,300 tonnes of wheat.

Soybean exports were concentrated at São Luís/Itaqui with 74,800 tonnes, Paranaguá with 68,400 tonnes and Santos with 40,600 tonnes, while corn shipments were led by Santarém with 179,200 tonnes, Paranaguá with 215,700 tonnes and Santos with 147,800 tonnes.

Considering soybeans, soymeal, corn and wheat together, Brazil’s total grain exports in January are estimated at 9.40 million tonnes, up 2.5% from the 9.17 million tonnes projected last week and 42.1% higher than the 6.61 million tonnes recorded in January 2025.

Anec said export volumes remain subject to change due to operational, weather and logistical conditions at ports.

By Gabriel Azevedo, Broadcast

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