Anec exporters association downsizes corn forecast, leaves soybeans untouched

Brazil’s association of exporters Anec reduced its corn export forecast from Brazil in October to a range of 5.5 million to 6.453 million tonnes, below the range of 5.5 million to 7.176 million tonnes projected last week. In September, the country exported 6.736 million tons of corn, according to the group.

As for soybeans, Anec now forecasts shipments of 2.5 million to 3.768 million tonnes, just above the ceiling of 3.767 million tonnes estimated a week ago. In September, 3.688 million were sent abroad.

The association slightly increased its estimate for bran to 2.074 million tonnes, which is higher than the 2.038 million tonnes forecast in the prior report and more than the 1.755 million tonnes of bran exported in the previous month.

From October 16 to 22, Brazil exported 654,531 thousand tonnes of soybeans, 450,323 thousand tonnes of bran, and 1.324 million tonnes of corn.

For the week of October 23 to 29, the forecast indicates1.566 million tons of corn, 1.078 million tons of soybeans, and 475.185 thousand tons of bran will be exported.

See below the track record of the volume of soybeans (HS code 1201) exported by Brazil between January 2019 and August 2022. The data is from DataLiner.

Soybean Exports | Jan 2019 -Aug 2022 | WTMT

Source: DataLiner (click here to request a demo)

From January to September, 70.884 million tons of soybeans were exported (compared to 78.969 million tons in the same period in 2021), according to Anec; 15.915 million tons of bran (against 12.754 million tons year-on-year); 25.653 million tons of corn (up from 12.679 million tons in nine months of 2021); and 2.394 million tons of wheat (a volume higher than the 490.657 thousand tons in the same interval last year).

Source: Money Times

To read the full original article, please go to: https://www.moneytimes.com.br/anec-reduz-previsao-de-exportacao-de-milho-e-faz-pouca-alteracao-em-soja-e-farelo/

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