56 vessels carrying soy beans left Brazil in the first 10 days of March, with 33 destined for China, according to Datamar’s new DataLiner for Bulk Cargoes dashboard-based product

Datamar’s new dashboard product shows that over 3m tons of soy were exported from Brazilian ports from 1^st to 10^th of March this year. That cargo is still on the water today and over 70% of it is destined for China, following record breaking Brazilian soybean exports in February 2019. According to data from shipping association BIMCO, Brazilian soybean exports were up 85.2% in the first two months of 2019, year-on-year. In February, Brazil exported 6.1m tons, a 112.6% increase from the 2.9m tons exported in February 2018. Increased demands from China due to the US China trade spat, coupled with an early soybean harvest, have caused the substantial jump in February exports.

According to Datamar’s new SAAS product, due to be launched at Intermodal this week, 56 vessels carrying soy beans left Brazil’s ports between the 1^st and 10^th of March 2019 carrying 3.2m tons of soy beans. The browser-based application shows 33 of these vessels are destined for China carrying over 2.25m tons of soy beans. The following data has been extracted from the system to show the shipping agents responsible for the cargo and the exports by Brazilian ports for the same period:

Soy stocks in storage are high in the US due to the country’s low exports to China, resulting from the tariffs applied during the trade war. This could lead to low US soy export prices when the tariffs are lifted. According to Reuters Brazil is currently conducting studies on how it could be impacted by the end of the trade dispute between China and the United States, helping the country to prepare a response if soy exports are disrupted.

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