China imported 51,4% more Brazilian soy during September, than in the same month a year ago according to a release from the Chinese Customs on 25 October. Brazil exported 7.25 million tons of oilseed to China in September compared to 4.79 million tons in the same period in 2019, according to the agency.1 comment
Brazil expects its 2020-2021 grain harvest to beat the record set by the newly completed season by 4.2%, according to an initial forecast released by the state-owned National Supply Company (Conab).
The Brazilian government is set to discuss a proposal that would temporarily eliminate tariffs on corn and soy imports from countries outside the Mercosur trade bloc, as recently happened with rice, a staple of the Brazilian diet.
Argentina plans to temporarily cut soybean and soy meal export taxes by 3 percentage points to 30% to help stimulate export revenue as the country struggles with recession and dwindling foreign reserves, it was announced on Thursday.
Brazil's 2019-20 grains and oilseeds harvest reached a 258mn t record as total acreage increased and yields performed well, despite some unfavorable weather conditions throughout the year.
The US Department of Agriculture (USDA) reported this week that Chinese importers purchased more soybeans from the United States and recorded their largest daily buy of US corn in almost a month. The acquisitions took place as both Washington and Beijing reaffirmed their commitment to the Phase 1 of the bilateral trade agreement.
Data released on Monday by Brazil' Foreign Trade Secretariat (Secex) indicates that corn exports reached 2 million tons in the first week of August and exceeded soybean shipments in this period.
Brazilian soybean production is expected to increase some five million tons in the 2020/21 harvest to a record 130,5 million tons, according to Daniel Amaral, chief economist of the Brazilian Association of Vegetable Oil Industries (Abiove). Based on this crop oilseed exports could reach 80 million tons in 2021, while domestic crushing could reach a new annual record of 45 million tons.
Just over two months after completing a special outflow to increase the level of the drought-stricken Paraná River, the world largest operational hydroelectric dam, Itaipu, located on the border of Brazil with Paraguay, will increase energy production to help sailing along the huge South American water artery.
Brazil’s soybean production in 2020/21 is expected to jump to a record 130 million tons, with good prices driving farmers to increase planting in pasture areas after a drought reduced the harvest in the south of the country in 2019/20.