Anec downgrades Brazilian soybean exports in July

Brazil may sell about 8.8 million tons of soybeans to foreign markets in July. This forecast was made public by analysts of the Anec association, who lowered their estimate of exports by 1.7 million tons compared to the previous one.

  At the same time, it is noted that the updated figure may exceed the result of July 2022 by almost 2 million tons, but yield to the results of June by 5.4 million tons.

“At the ports of the country, 2.32 million tons of soybeans were prepared for shipment from July 16 to July 22, compared with 1.78 million tons a week earlier,” the report says.

In addition, Anec raised its July estimate of Brazilian soybean meal by 100,000 tons to 2.6 million tons from 2.3 million tons in June and 2.1 million tons in July 2022.

The estimated sales of South American corn, on the contrary, was reduced by 100 thousand tons to 6.8 million tons (1.2 million tons a month earlier; 5.6 million tons a year earlier).