Soy Complex Exports Slowed Down in January

In January, Brazilian exports of the soy complex declined, with a slowdown in trade activity. This scenario is explained by factors, including delayed harvesting in Brazil and expectations for Argentina’s crop, which have stalled the international market.

Soybeans

Soybean exports, which totaled nearly 3 million tons in January last year, dropped sharply to about 1 million tons in January 2024, representing a one-third decline in volume. Producers are holding onto their stocks, waiting for better prices before selling.

Soybean Meal

Soybean meal exports decreased slightly, from 1.8 million to 1.7 million tons. The less pronounced decline compared to soybeans is due to the need for crushing industries to maintain continuous operations. Factories must keep production running to remain financially stable, making meals more difficult to store than whole soybeans. Despite the reduction, soybean meal remains traded steadily, although still below expectations.

Source: Canal Rural

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