Brazil could change the structure of trade flows of grains and oilseeds

게시됨 2024년 6월 24일

Tridge 요약

Brazil is emerging as a significant player in the global market for corn and soybeans, with potential to challenge the US as the world's largest corn producer and maintaining its position as the top soybean exporter. However, growing domestic demand and a need to diversify export destinations due to reliance on China could impact its export volumes. Arnaud Petit of the International Grains Council suggests that Brazil could face competition, especially in soybean meal, from Argentina, and highlights the need for Brazil to expand its grain production to wheat. Despite challenges, the USDA anticipates a rise in Brazilian wheat production and exports in the future.

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원본 콘텐츠

Brazil has become an “important operator” in global supplies of corn and soybeans, and by expanding its export window, the 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. This is 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 USDA. Current production volume in MY 2023-2024 is estimated at 153 million tons, which is 5.5% less than last year. Similarly, Brazilian exports of oilseeds in MY 2023-2024 are estimated at 102 million tons, up 6.8% from last year. The U.S. Department of Agriculture forecasts Brazil's corn production for the current growing season will be 122 million tons, down 11% from the previous ...

출처: Oilworld