Brazil to cut soybean exports due to lower yield and biofuel demand

According to Conab experts, a reduction in the soybean harvest in Brazil due to unfavorable weather conditions in the main producing states will lead to a reduction in oilseed exports this year. It is also noted that Brazil's National Energy Policy Council (CNPE) has approved an increase in the level of biodiesel in diesel fuel from 12% to 14%, which will lead to increased domestic demand for soybean oil. Given these circumstances, Conab lowered its estimate for the country's 2024 soybean exports by ...