Brazil’s Grain Export Volume Falls for the First Time in Four Months

For the first time in the first four months of the year, Brazil’s soybean and corn export volumes have not registered growth. According to Giovani Ferreira, director of Canal Rural Paraná, this stagnation is not due to the crisis in Rio Grande do Sul but rather to a reduction in grain supply caused by unfavorable weather conditions throughout the country during the crop cycle. Ferreira explained that the smaller supply of soybeans and corn in the 2023/24 cycle necessitates a more careful allocation of these products, leading to a reduction in exports. Despite this, shipment numbers from January to April this year are consistent with those of last year.

According to data from the Foreign Trade Secretariat (Secex), Brazil exported a total of 43.65 million tons (33.43 million tons of soybeans and 10.22 million tons of corn) during the same period in 2023. In 2024, the country exported 43.87 million tons (36.79 million tons of soybeans and 7.08 million tons of corn). “We are maintaining steady levels from one year to the next. International demand may be cooling down, but the reduced supply in Brazil is the primary reason we are not seeing growth in volumes,” said Ferreira.

The chart below shows Brazil’s soy export volume between Jan 2022 and Feb 2024. The data is from DataLiner.

Brazilian Soy Exports | Jan 2022 – Feb 2024 | WTMT

Source: DataLiner (click here to request a demo)

Soybean Exports Offset Corn Decline

Examining soybean shipments alone, an increase in exports during the first four months is evident, rising from 33.43 million tons last year to 36.79 million tons in 2024. Ferreira expressed the expectation that this year’s overall exports would be slightly lower than the previous year, particularly concerning corn. He noted that in 2023, Brazil exported over 100 million tons of soybeans and more than 50 million tons of corn throughout the year. The forecast for this year is to reach between 80 and 90 million tons of soybeans, while corn exports are expected to fall to around 40 million tons.

Source: Compre Rural

Click here to read the original news report: https://www.comprerural.com/volume-de-soja-e-milho-exportado-pelo-brasil-cai-pela-primeira-vez-no-quadrimestre/

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