Brazil’s soybean exports continue at strong pace in July

Brazilian soybean exports kept at a strong pace in July, while corn shipments struggled to keep up with last year’s figures, customs data showed late on Monday July 15.

Soybean exports amounted to 5.2 million tonnes in the first two weeks of July, compared with 9.6 million tonnes exported in the entirety of July 2023.

So far this month, the average soybean shipment volume per working day was 525,689 tonnes, up by 13.9% from the daily average of 461,711 tonnes from the same month last year.

Brazilian grain exporters association Anec projected July’s soybean shipments at 10.3 million tonnes in its latest report released on July 9.

Corn exports

Brazilian corn shipments remained slow and totaled 848,558 tonnes in the first half of July. Exported amounted to 4.2 million tonnes in July 2023; shipments usually pick up in the second half of the year.

The average volume shipped per working day was 84,855 tonnes so far this month, down by 56% from July 2023’s daily average of 201,458 tonnes.

Anec has forecast corn shipments for July at 4 million tonnes.

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Soybean meal and oil exports

Soybean meal shipments amounted to 847,513 tonnes in the first two weeks of July, compared with 2.2 million tonnes exported in the full month of July 2023.

The average soybean meal export rate per working day was 84,751 tonnes so far this month, down by 19.8% from the average of 105,663 tonnes in July 2023.

Anec projected Brazil’s soybean meal shipments for July at 1.89 million tonnes.

Brazilian exports of vegetable oils and fats – mostly comprised of soybean oil – reached 103,266 tonnes in the first two weeks of July, compared with 227,935 tonnes in the whole month of July 2023.

So far this month, the average shipped volume per working day was 10,326 tonnes, down by 4.8% from the average of 10,849 tonnes from July 2023.