Brazil to export 3-mil to 3.4-mil mt of soybeans in October: Anec

Brazil’s grain exporters' association Anec increased its soybean exports forecast for October to 3 million to 3.4 million mt range in its weekly update released on Tuesday.

Last week, Anec said it expects exports to reach 2.9 million mt in October.

The exporters' association said it thinks volume will be at the higher level of the range, but its forecast considers the possibility of shortage in cargo loading. 

The figure represents a 56.4% rise on the year compared with the 2.1 million mt that the country shipped in the same month of 2020.

If the forecast is confirmed, Brazil’s annual soybean exports will reach 82.3 million mt by the end of this month, above the 81.3 million mt shipped in the same period last year, and matching the 82.3 million mt total volume of shipments handled through 2020.

Estimates on corn exports have also been raised and are now expected to reach between 2 million and 2.3 million mt in October, versus last week’s forecast of 1.9 million mt.  

The volume is still down 49% compared with October 2020's 4.5 million mt volume.

If the forecast is confirmed, Brazil will export 14.9 million mt of corn by the end of this month, versus 24.6 million mt in the same period last year.

In 2020, the country shipped 33.4 million mt in total.

Soymeal exports are expected to reach 1.39 million mt in October, below last week’s 1.34 million mt forecasts, and 0.9% up on the year. In the same month last year, Brazil’s shipments totaled 1.33 million mt.

Brazilian soymeal shipments should reach 14.1 million mt between January and October, Amec said, which is close to the 14.4 million mt volume exported in the same period last year.

In 2020, the country exported 16.8 million mt.