The Brazilian soy complex, which includes grain, bran, oil, and other derivatives, saw a slight increase in exports in the first quarter of 2025, totaling 27.87 million tons, up from 27.42 million tons in the same period of 2024. However, Paraná, the country's second-largest producer, experienced a decline in exports, with a 18.7% drop to 3.37 million tons compared to the first quarter of the previous year, primarily due to lower Chinese demand. Despite this, analysts expect an improvement in the external scenario in the coming months, with the anticipation of a cooling down of the tariff dispute between China and the United States, which could lead to a resumption and potential increase in shipments in the later half of 2025.