Brazil: Cargill sees a positive outlook for soybean crushing margins and exports in 2021

By Leticia Pakulski São Paulo, 04/28/2021 - Cargill sees soybean exports from Brazil heated in 2021 with the record harvest that is just being harvested and firm Chinese demand, says the company's president in Brazil, Paulo Sousa. The executive projects stable crushing margins, but still "in a positive situation" in the country, with the slow commercialization of soybeans for crushing in Argentina, strong global demand and the competitiveness of the Brazilian industry. Corn exports, however, will depend on the size of the off-season, which currently goes through a period of unfavorable development climate, according to the executive. "This year started very well for export, with record volumes being exported for soybeans, and a record harvest too, so this part is going very well," says Sousa. On the demand side, the expectation is that China's interest in Brazilian soy will continue in 2021. "China continues to be the biggest buyer of soy in Brazil at a skyrocketing pace. With the ...