MercoPress. South Atlantic News Agency

Brazilian 2022 exports of soybean estimated to reach 78 million tons, and corn some 40 million tons

If exports come in as forecast, Brazil’s shipments will end November at 76.8 million tons, behind 2021’s 86.6 million tons, shows the ANEC soybean report.

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

 Despite Brazil remaining as the world's leading exporter of the oilseed, soybean shipments in November have been lowered to 2.3 million tons from the previous 2.4 million tons forecast. Still, the volume is 8.8% above the 2.1 million tons reached during the same month last year.

If exports come in as forecast, Brazil’s shipments will end November at 76.8 million tons behind 2021’s 86.6 million tons, concluded the ANEC soybean report.

November soy meal export projections have also increased and are now forecast at 1.5 million tons. The figure is 27.2% higher than last year’s 1.2 million tons exported in the same month.

If figures are confirmed, 2022 exports will reach 19.2 million tons by the end of this month, up 25.4% from the 15.3 million tons shipped during the January to November period of 2021. Last year’s soy meal exports totaled 16.8 million tons.

Regarding corn ANEC increased its November shipments forecast to 6.6 million tons as demand remains strong. According to the association’s estimate, exports will be 3.9 million tons higher than last year, when they amounted to 2.7 million tons for the same month.

If the projection is confirmed, corn exports will reach 38.5 million tons during the first 11 months of 2022, up 89.9% from the total exported in 2021. Japan, Vietnam, Egypt and Korea are the main clients for Brazilian corn this harvest.

ANEC also reported positive prospects for wheat, a rare export agriculture commodity for Brazil, which traditionally has been a net importer of the grain. However exports in November have jumped from 65,000 tons in the first half of the month, to 143,000 tons, up 141,9%, from the 59,100 tons shipped abroad in November a year ago.

And if the export tendency remains as expected, 2022 Brazilian wheat exports will reach 2.5 million tons by the end of November, far higher than last year’s 569,746 tons exported during the same period a year ago. In other words an all time high, up 128,9% from the volume Brazil exported in 2021.