Brazil soy, corn exports in first week of Dec. eclipse all of Dec. 2016

Brazil’s exports of soybean in the first six trading days of December totalled 656,000 mt, more than the whole of December 2016, according to data from Brazil’s ministry of industry, foreign trade and services.

Brazil, which is the world’s largest exporter of soybean, had a surplus of beans in the 2017 season due to a record crop of 114 million mt, which allowed it to sell well into December.

The figures mean that Brazil has exported 65.5 million mt so far this February through January marketing year, 25% more than the previous marketing year with just under eight weeks to go.

A similar dynamic played out in corn, where exports totalled 1.4 million mt, more than 400,000 mt higher than the volume exported in the whole of December 2016.

Total exports in the current marketing year stand at 25.2 million mt, up 46% on the 18.9 million mt in the previous corresponding period.

The corn exports came as a record 98 million mt crop was put in the bins during 2017 season.