Exports of soybeans from Brazil in 2021 should reach a record 86.7 million tons, according to ABIOVE (the Brazilian association of vegetable oil industries). On July 7, due to the strong demand from China, the association raised its projection by 1 million tons compared to that released in June.
ABIOVE also reduced the forecast of ending inventories of soybeans in the country this year by 1 million tons, to 4.16 million tons, after high expectations for exports.
