Brazil’s soybean exports are estimated to reach 78 million tons in 2022, while corn exports are expected to reach about 40 million tons – MercoPress

Brazil’s soybean exports are estimated to reach 78 million tons in 2022, while corn exports are estimated to reach around 40 million tons

If exports meet forecasts, Brazil’s supplies will end at 76.8 million tonnes in November, down from 86.6 million tonnes in 2021, ANEC’s soybean report showed.

Brazil’s soybean exports are expected to reach 78 million tonnes this year, down 9.3% from 86.3 million tonnes in 2021, according to grain exporters association Anec. But the figure is 2.5 million tons higher than the previous estimate of 75.5 million tons for full-year soybean shipments.

Although Brazil remains the world’s leading exporter of oilseeds, November soybean shipments were cut to 2.3 million tons from a previous forecast of 2.4 million tons. However, the volume is 8.8% higher than the 2.1 million tons achieved in the same month last year.

If exports meet forecasts, supplies to Brazil will end at 76.8 million tonnes in November, compared with 86.6 million tonnes in 2021, ANEC’s soybean report showed.

The soybean meal export forecast for November has also increased and is now forecast at 1.5 million tons. This figure is 27.2 percent higher than last year’s 1.2 million tons exported in the same month.

If the figures are confirmed, 2022 exports will reach 19.2 million tonnes by the end of this month, up 25.4% from the 15.3 million tonnes shipped between January and November 2021. Last year’s export of soybean meal amounted to 16.8 million tons.

For maize, ANEC raised its November supply forecast to 6.6 million tonnes as demand remains strong. According to the association’s estimates, export will be 3.9 million tons more than last year, when it amounted to 2.7 million tons in the same month.

If the forecast is confirmed, corn exports will reach 38.5 million tons during the first 11 months of 2022, an increase of 89.9% from the total volume of exports in 2021. Japan, Vietnam, Egypt and Korea are the main customers of Brazilian corn this crop.

ANEC also reported a positive outlook for wheat, a rare agricultural export for Brazil, which has traditionally been a net grain importer. However, November exports rose from 65,000 tonnes in the first half of the month to 143,000 tonnes, up 141.9% from 59,100 tonnes shipped abroad in November a year ago.

And if export trends continue as expected, Brazil’s wheat exports in 2022 will reach 2.5 million tonnes by the end of November, well above last year’s 569,746 tonnes exported in the same period last year. In other words, it is an all-time high, increasing by 128.9% of Brazil’s export volume in 2021.