Brazil can change the structure of trade flows of grains and oilseeds – IGC director

Published 2024년 6월 24일

Tridge summary

Brazil is expanding its export window for corn and soybeans, potentially changing trade flow patterns and making it a more important operator in the global supply of these commodities. As the world's largest producer and exporter of soybeans, and the world's largest corn producer (despite a decrease in production), Brazil could play a significant role in the global grain outlook. However, growing domestic demand and competition from other operators like Argentina could impact its export levels. Additionally, diversifying its exports to include corn and soybean by-products, as well as exploring new opportunities in wheat production, could help Brazil maintain its trade flow, especially as it remains heavily dependent on China for soybean exports.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Brazil has become an “important operator” in the world supply of corn and soybeans, and by expanding its export window, this South American country “could change the pattern of trade flows,” said Arnaud Petit, director of the International Grains Council. “Until now, Brazil only exported in March, while the US exported mainly between September and November. But now Brazil can export longer during the marketing year. That’s something new,” Petit told S&P Global Commodity Insights at the IGC Grains Conference on June 13. Brazil is the world’s largest producer and exporter of soybeans, according to the U.S. Department of Agriculture. Current production in MY 2023-2024 is estimated at 153 million tons, down 5.5% from last year. Similarly, Brazilian oilseed exports in MY 2023-2024 are estimated at 102 million tons, up 6.8% from last year. The USDA forecasts Brazil’s corn production for the current crop season at 122 million tons, down 11% from the previous season’s record crop, which ...

Source: UkrAgroConsult