In 2024, Brazil's soybean exports may not exceed the previous year's level

Analysts at Safras&Mercado forecast soybean exports from Brazil in 2024 at 94 million tons, which is significantly lower than the result of the previous season (101.9 million tons). At the same time, the volume of domestic oilseed processing is expected to increase to 54.3 million tons against 52.2 million tons in 2023. At the same time, an 18% increase in the volume of soybean oil consumption for biodiesel production is projected - up to 5.2 million tons. Exports of soybean meal from Brazil this year are expected to ...