Source: Oleoscope (Russia)
According to Brazil’s SECEX, Brazilian soybean exports have continued to decline since October, which could indicate that Brazil’s soybean export supply is starting to shrink after months of strong growth. From October 1 to 18, Brazilian soybean exports totaled 2.93 million tons, compared to 5.6 million tons in all of October last year, down 21.5% from the same period last year.
Export receipts for soybeans amounted to USD 1.24 billion in October, compared to USD 2.93 billion for the whole of October last year.
Since October, the average export price for soybeans has been USD 424 per metric ton, a decrease of 19% compared to the same period last year.
In comparison, Brazilian soybean exports amounted to 6.11 million tons in September, a decrease of 4.5% compared to the previous year.
Previously, the National Association of Brazilian Exporters (ANEC) had predicted that Brazil would export between 4 million and 4 million 686,000 tons of beans in October.