News

USDA: Brazil should have a 60% share of world soybean exports in 10 years

Soybean
Brazil
Market & Price Trends
Published Feb 22, 2024

Tridge summary

The United States Department of Agriculture (USDA) projects a significant increase in Brazilian soybean exports over the next decade, with an expected growth of 31.8% to reach 133.2 million tons by 2033/34. This will boost Brazil's share of global exports from 57.18% to 60.1%. Meanwhile, US shipments are also predicted to rise by 10.9%, but its global export share will decrease from 29.6% to 26.2%.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Brazilian soybean exports are expected to increase 31.8% over the next ten years, reaching 133.2 million tons in 2033/34, according to a projection by the United States Department of Agriculture (USDA). Brazil's share of world exports is expected to rise from 57.18% in 2024/25 to 60.1% in 2033/34, the USDA said in a report. According to the agency, soybeans remain more profitable than other crops in most areas of Brazil. “With increased planting in the Cerrado region and production extending into the Legal Amazon, the growth rate of soybean planted area is expected to increase steadily over the next ...
Source: CanalRural
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