Exporters ebb Brazil’s corn forecast for November

Corn exports from Brazil in November were estimated on Tuesday (29) at 5.94 million tonnes, almost 500,000 tonnes below the projection released last week, according to data from Anec (National Association of Cereal Exporters).

In a report, Anec did not explain the reasons for the reduction based on ship scheduling and shipments. The figures come after Brazil’s long-awaited start of corn exports to China.

Regardless exports are expected to grow by more than 3 million tonnes from November 2021, with the sector counting on a record harvest to serve foreign markets, including Europe, where the drought seriously affected cereal production.

See the graphs below for volumes of corn exported by Brazil since 2017 and the main destinations:

Brazilian Corn Exports (1005) | Jan 2017 to Oct 2020 | WTMT

Source: DataLiner

Main Destinations for Brazilian Corn Exports (HS 1006) | Jan-Dec 2019 | WTMT

Source: DataLiner (click here to request a demo)

Year-to-date, up to November, exports from Brazil are expected to reach 37.8 million tonnes of corn, according to the figures released.

This means that Brazil would need to export at least 3.2 million tonnes in December for Anec’s forecast of 41 million tonnes in 2022 to become true.

This export level would be close to the 2019 record.

Source: Forbes

To read the full original article, please go to: https://forbes.com.br/forbesagro/2022/11/anec-reduz-previsao-de-exportacao-de-milho-do-brasil-em-novembro-2/

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