Exports of soybean meal from Brazil in August are forecasted at 2.38 million tons, ANEC is considering a reduction in soybean exports.

The Brazilian Grain Exporters Association (ANEC) announced that in August of this year, it is planned to export 2.38 million tons of soybean meal, which exceeds the projected figures by 2.24 million tons.

If the forecast proves to be accurate, this will surpass the figures for July (2.011 million tons) and the same period last year (1.925 million tons).

ANEC is also considering the possibility of reducing soybean exports from Brazil, forecasting figures ranging from 7.5 million to 8.85 million tons.

The majority of soybean meal exports from Brazil (84%) are destined for China, which is also the main consumer of soybeans themselves. Brazil had previously increased bean exports to China by 72% since the beginning of the year, reaching 15.9 million tons.