Brazilian soybean export pace accelerates, corn slows

According to customs data, the country's soybean shipments reached 2.3 million tonnes in the first two weeks of October

Brazil’s soybean exports reached 2.3 million tonnes in the first two weeks of October, increasing its shipment pace from last week while the pace of corn shipments slowed, customs data showed on Monday, October 16.

Brazilian soybean exports totaled 3.8 million tonnes in October 2022.

The average soybean shipment per working day was 261,486 tonnes last week, higher than the 215,916 seen in the previous week and 30.8% above the 199,907 tonnes average pace from October 2022.

The country’s Grain Exporters Association (Anec) forecasts Brazilian soybean exports to reach 6.6 million tonnes in October, surpassing the 5.2 million tonnes record volume exported in October 2018.

Corn exports

The South American country exported 3.9 million tonnes of corn in the first two weeks of the month, while last October shipments amounted to 6.8 million tonnes, a record volume for the month.

The average exported volume of corn per working day was 443,276 tonnes last week, below the prior week’s average of 469,588 tonnes and up 24.1% from the 357,108 tonnes average in October 2022.

Anec projects Brazil´s corn exports to reach a record 9.1 million tonnes in October.

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Soy meal and oil exports

Brazil’s soy meal shipments amounted to 1 million tonnes in the first two weeks of October, while exports totaled 1.8 million tonnes in the same month last year.

The average pace of shipments per working day was 112,230 tonnes last week, higher than the 95,196 tonnes seen in the prior week and 18.3% above the 94,894 tonnes average in October 2022.

Anec pegged Brazilian soy meal shipments at 1.9 million tonnes in October.

The country’s vegetable oils and fats exports, composed mostly of soy oil, reached 54,492 tonnes in the first two weeks of October.

In the same month last year, Brazilian exports totaled 204,718 tonnes.

The average export pace per working day dropped to 6,055 tonnes last week from 8,662 tonnes a week earlier, and 43.8% lower than the 10,774 tonnes average pace from October 2022.

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