Brazil’s soybean and wheat exports begin March at a fast pace

Brazil's agricultural exports soared in the first week of March, which underscores the country's pivotal role in global food supply

Brazilian soybean exports reached 3.6 million tonnes in the first week of March, starting the month at a fast pace, as did wheat shipments, data from the country’s customs department showed on Monday.

In the same month last year, soybean exports amounted to 13.2 million tonnes.

The average shipment volume per working day was 605,881 tonnes last week, up 5.2% compared with the 575,712 tonnes seen a year earlier.

Brazil’s grain exporters association Anec has pegged soybean shipments at 12.5 million tonnes in March.

Wheat exports

Brazilian wheat exports reached 416,656 tonnes in the first week of March, while in the same month last year, exports amounted to 607,935 tonnes.

Anec projects wheat shipments at 613,973 tonnes this month.

The daily average shipment rate amounted to 69,442 tonnes last week, 162.7% above the 26,324 tonnes registered in March 2023.

Corn exports

Brazil exported 173,714 tonnes of corn in the first week of March, while in the same month last year shipments totaled 1.3 million tonnes.

The estimate is already higher than the 146,783 tonnes Anec projected for the whole month of March.

Average daily shipments of corn reached 28,952 tonnes in the past week, 50.1% below the 58,054 tonnes seen in the whole month in 2023.

Soybean meal and oil exports

Brazil’s soybean meal exports reached 616,752 tonnes in the first week of this month, while March 2023 exports amounted to 1.9 million tonnes.

The average export rate per working day was 23.4% higher last week at 102,792 tonnes versus the 83,268 tonnes average for the whole month last year.

Anec expects Brazil’s soybean meal exports to hit 1.2 million tonnes in March. 

The country’s vegetable oils and fats shipments, composed mostly of soybean oil, reached 14,607 tonnes in the first week of the month compared to 243,550 tonnes exported in March 2023.

The average shipment pace per working day was 2,618 tonnes,  down 79.5% from the 10,589 tonnes average from March last year. 

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