Anec lowers projection for soybean exports from Brazil in February to 7.73 million tons

Published Feb 28, 2023

Tridge summary

Brazil's soybean exports in February were estimated at 7.73 million tons, below the expected 8.3 million due to a slower harvest and rainy weather, according to the National Association of Cereal Exporters. However, this is slightly above the minimum shipment of 7.6 million tons. Corn shipments were projected at 1.95 million tons, with a decrease from February 2022's exports of 523.3 thousand tons. Soybean meal exports were estimated at 1.28 million tonnes, down from February 2022's exports of 1.57 million. Wheat exports were projected to be up to 548.8 thousand tons, a decrease from the previous forecast of 670.4 thousand and a significant drop from February 2022's exports of 925.26 thousand.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

SAO PAULO (Reuters) - Soybean exports from Brazil in February were estimated at 7.73 million tons, versus an estimate of up to 8.3 million pointed out in the previous week, in the wake of a slower harvest of the 2022/23 crop and rains that affect shipments, showed data from the National Association of Cereal Exporters (Anec) this Tuesday. The new forecast, however, was slightly above the minimum shipment projected by the entity last week, of 7.6 million tons. The projection of corn shipments, in turn, was practically stable with 1.95 million tons, against 1.99 million in the last survey. If expectations are confirmed, based on the scheduling of ships for shipment, there will be a drop compared to the export of 9.11 million tons of soybeans in February 2022, and a great advance in corn, since shipments of the cereal in the same month of last year they totaled only 523.3 thousand tons. The summer corn harvest is also slow, but the country has available stocks after a full harvest ...

Source: Mixvale