Brazil exports over 16m mt of soybeans, a record for May

Brazilian soybean exports reached 16.4 million mt in May, a record for this time of...

Brazilian soybean exports reached 16.4 million mt in May, a record for this time of the year and less than 1mi llion mt below the all-time record shipped in April, official customs data showed Tuesday.

The country loaded 781,114 mt of beans per working day in May, down from daily shipment rates above 880,000 mt at the beginning of the month but still 10.7% higher on the year.

May bean exports came slightly above the 16.2 million mt forecast set by the Brazilian grain exporters association Anec in the week prior.

Looking ahead, over 8.2 million mt of beans are scheduled to leave Brazilian ports in the coming weeks, line-up data from shipping agency Cargonave showed Tuesday.

Despite the record export level, the agency’s data shows that the share of beans heading to China declined from May 2020 – the full official statistics will be released in the coming days.

The country exported 13,919 mt of corn in May at a daily average of 663 mt, 46.8% lower on the year.

That said, Brazilian corn exports are typically very low at this time of the year and, despite the expected shortfalls in the second crop safrinha due to dry weather conditions, volumes shipped should pick up from the second semester.  

What to read next
A bullish consensus formed last week in Shanghai as leading market participants met for the annual CPICC conference and Shanghai Pulp Week. Meetings were held against the backdrop of growing concerns around market pulp and woodchip supply, while questions remained around the strength of underlying demand. Heading into the week, the rally in pulp prices […]
The March 2024 monthly averages were published today based on the index values of March 1, 8, 15 and 22.
Recent developments in China’s pulp and paper industry, notably the divestment of the Anhui Huatai pulp mill, prompted a closer examination of the dynamics of swing pulp lines, particularly the delicate balance between dissolving wood pulp and paper grade wood pulp. The Anhui Huatai pulp mill, which suspended production in the first half of 2023, […]
Argentina's corn and sunflower crop forecasts have been downgraded due to recent weather challenges, according to the latest BAGE report
China’s manufacturing sector is overtaking its construction sector in driving the country’s demand for steel, in a shift that is expected to benefit flat steel products more than long steel ones, an industry expert said at an industry conference on Friday March 22
Producing battery-grade manganese sulfate in China is “logical” even for non-Chinese companies, due to the country’s strong demand and cost competitiveness, according to the chief executive officer of emerging Australia-headquartered producer Firebird Metals