Brazil to export record 93mmt of soybean; 50 mmt of corn: Anec

Brazil’s soybean shipments are projected at 93 million mt in 2023, while corn shipments are projected to reach 50 million mt, both estimated at all-time high levels, the grain exporters' association Anec said in its weekly report late Wednesday. 

If the projection is realized, Brazilian soybean shipments will increase 19.5% from last year’s 77.8 million mt.

Meanwhile, corn shipments would surpass last year’s 43.1 million mt record by 16% and could put Brazil ahead of the US as the biggest corn exporter in the world.

Soybeans

Brazil’s March soybean exports are projected at 14.2 million mt, 2.49 million mt higher than last year’s 12.1 million mt in the same month.

February exports totaled 7.5 million mt, below the 7.7 million mt previously estimated and lower than the 9.1 million mt shipped in the second month of 2022.

The main destinations were China 72%, followed by Spain (7), Thailand, Russia (3%) and Argentina (2%).

Corn

March corn exports were pegged at 803.219 mt, 695.987 mt higher than the 107.232 mt shipped in 2022.    

February exports totaled 1.9 million mt, at the same level projected and 1.4 million mt above last year’s 532,342 mt February shipments.

The main buyer was Japan (23%), followed by Vietnam (10%), South Korea and Colombia (9%).  

China was the destination for 8% of the volume.

In January and February, shipments totaled 486,500 mt and 70,000 mt, respectively.

Soymeal

Soymeal exports are expected to reach 1.9 million mt in March, 536,047 mt above last year’s 1.3 million mt for the same month.

February’s shipments hit 1.2 million mt, at the same level projected earlier, while exports totaled 1.5 million mt in the second month of 2022.

The main buyers were Thailand (19%), the Netherlands (12%) and Indonesia (11%).

Wheat

In the third month of the year, wheat exports are projected at 612,824 mt, above last year’s 508,164 mt March shipments, according to Anec.  

Wheat exports ended February at 571,888 mt, lower than the previous 584,800 mt estimates and far below the 925,267 mt from the same month last year.  

The main destinations were Indonesia (33%), Vietnam (10%) and Nigeria (8%).