Brazil's corn exports reach record 43.1 million mt in 2022: Anec

While in 2022 corn, wheat, and soymeal exports hit all-time highs, Brazil's main exporting product of soybeans reported a decline in shipments reflecting the crop loss from the past year, the country’s grain exporters’ association ANEC showed in its latest report, released on Wednesday.

Brazil’s corn exports totaled 43.17 million mt in 2022, 109.5% up from last year’s 20.6 million mt, as production recovered from the summer crop losses and the interest in Brazil's grain increased amid worries about supply due to the war in Ukraine and following Chinese demand.

Corn exports finished the year below Anec’s latest output forecast of 43.5 million mt, as December corn exports reached 5.8 million mt, below the previous 6.1 million mt export projection.

Iran was the main destination for Brazil’s exports and was responsible for 12% of the volume, followed by Japan (12%) and Spain.

Access to the Chinese market was the main focus this year and currently, 22 ships are tracked carrying corn with potential destination of China.

The strong export pace is expected to continue in 2023 as January corn exports are projected at 4.3 million mt while in the same month in 2022 the country shipped 2.2 million mt.  

Soybean

Brazil’s soybean exports were down 10.1% from the record 86.6 million mt in 2021 and totaled 77 million mt.

The decline is a result of crop loss caused by drought in the past crop year, which limited the availability of the product.  

The figure is lower than the association's most recent forecast of 78 million mt.

December soybean exports reached 1.5 million mt, below the 1.7 million mt of the previous forecast and well down versus the 2.3 million mt shipped in December 2021.  

China was the main destination for Brazil’s exports and was responsible for 70% of the volume.

January soybean exports are estimated at 1.3 million, 1 million mt lower than in the same month in 2022.

The harvest typically starts in late January and shipments start to gain momentum in the following month. 

Soymeal

Soymeal exports also hit record levels and reached 20.4 million mt, above 2021’s 16.8 million mt, and slightly down from Anec’s 20.5 million mt previous forecasts.

Shipments were favored in the first half of the year as Argentina and US had issues concerning availability and logistics, respectively. 

Soymeal exports were expected to reach 1.5 million mt in December but ended the month at 1.3 million mt.

Indonesia was Brazil’s main buyer (15%), followed by Thailand (13%) and Holland (11%).

The first month of the year starts with exports projected at 1.3 million mt while in the same month in 2022 the country shipped 1.5 million mt

Wheat

Wheat shipments reached their highest level as well and totaled 3.2 million mt, above the previous year’s 1.1 million mt, and within the previous forecasts.

The historic mark was possible as Brazil harvested a record 9.5 million mt and the war in Ukraine led buyers to seek for alternative sources.

Wheat exports were expected to reach 709,566 mt in December and ended the month slightly lower at 689,256 mt.

Saudi Arabia bought 20% of the shipped volume, the same as Indonesia, while Sudan bought 10% of the total exports.

January exports are projected at 280,715 mt while in the same month in 2022 the country shipped 695,953 mt.