Brazilian soybean and corn exports slow down in the second week of August

According to the country’s official customs office's data, average shipments per working day are down

Brazilian soybean and corn average exports per working day slowed down in the second week of August, data from the country’s official customs office showed Monday.

Soybeans exports

Average soybean exports were reported at 307,078 tonnes per working day, up 4.2% from the 294,735 tonnes average from August 2021, but below the previous week’s 363,555 tonnes per working day average.

Soybean shipments reached 3 million tonnes in the first two weeks of August, a 1.2 million tonnes increase on the week, while for the full month last year, shipments reached 6.4 million tonnes.

The country’s grain exporters association Anec projects Brazil’s soybean exports at 5.6 million tonnes in August, down 2.1% from last year’s shipments in the same month.

Corn exports

For corn, average exports were reported at 323,628 tonnes per working day, up 64.2% from the 197,080 tonnes average in the same month last year, but below the 338,401 tonnes from the prior week.

Brazil has exported 3.2 million tonnes of corn in the first two weeks of August, a 1.5 million tonnes advance on the week.

Shipments totaled 4.3 million tonnes in August 2021.

Brazilian corn exports in August are expected to reach 7.8 million tonnes, according to Anec.

Soybean meal and oil exports

Brazil exported 892,352 mt of soy meal in the first two weeks of August, a 436,667 tonnes weekly advance, while shipments totaled 1.6 million tonnes in the same month last year.

Average exports were reported at 89,235 tonnes per working day, 21.5% higher than last year’s 72,830 tonnes average in August and below the previous week’s 91,137 tonnes.

Anec forecasts Brazilian soy meal exports at 1.9 million tonnes in August.

Vegetable fats and oils, mostly composed of soy oil, exports reached 108,862 tonnes in the first two weeks of August, a 98,333 tonnes increase on the week.

Shipments reached 176,738 tonnes in the full month last year.

Average exports reached 10,886 tonnes per working day, up 35.5% from the 8,035 tonnes average during August 2021 and ahead of the previous week’s 2,106 tonnes average.

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