World soybean exports in the first half of the agricultural year set a new record

Global soybean exports for the first half of the 2023-24 crop year (for oilseeds is replaced in October - ROSNG) amounted to a record 78.7 million tons. OleoScope reports this with reference to data from the German analytical agency Oil World. This is 4.4 million higher than in the same period last year. The figure for February (that is, the month ending the first half of the agricultural year) also increased significantly - to 13.7 million tons, or two million higher. This is also in line with the average over the past few years. The increase was facilitated by increased supplies of oilseeds from Brazil and Paraguay. It was able to more than compensate for the slowdown in exports from the United States and Argentina. In Brazil, this was helped by competitive crop export prices and strong supply of raw materials by farmers amid higher harvests. Various experts give their forecasts for the final crop harvest in the country for the current agricultural year. For example, consulting ...