Brazilian Dec. soybean exports to hit 6-yr low, corn 5-yr high
Soybean exports in Brazil are set to hit their lowest December volumes since 2014 after the worldвЂ™s largest...
Soybean exports in Brazil are set to hit their lowest December volumes since 2014 after the world’s largest producer and exporter sold out all its beans earlier in the season, while corn exports are set to end at its highest volume since 2015, Brazilian customs and line-up data showed.
A further 44,000 mt of soybeans was exported during the week ending December 18, taking the total for the first three weeks of December to 181,475 mt, weekly customs data released late Monday showed.
At the same time, line-up data provided by shipping agency Williams indicated no additional vessels will export Brazilian soybeans before the start of 2021, meaning December’s final volume is likely to end up at 181,475 mt.
While that figure is up from the full month forecast of Brazilian exporters’ association Anec of 88,900 mt, it would still be the lowest since December 2014 when 138,000 mt of beans were exported.
The slow export pace comes at the end of a record soybean production and export campaign as Chinese demand for the oilseed surged earlier this year and just a few months before Brazil’s next soybean harvest comes into full swing.
During the last week, Brazil exported a further 556,000 mt of corn, taking this month’s total so far to 2.82 million mt.
Williams line up data showed an additional 1.6 million mt is expected to leave Brazil before the end of year, taking the expected December exports to 4.41 million mt – in line with Anec’s earlier expectations.
It compares to the 4.37 million mt exported in December last year and would be the highest volumes for December since 2015 when 6.26 million mt was exported.