Soybean exports from Brazil are expected to reach 7.5 million tons in February, according to the National Association of Cereal Exporters (Anec), which revised its forecast downward from the one released last week (9, 9 million tons).
Nonetheless, despite lower-than-expected exports in January, Brazil has the potential to set a record for soybean shipments in February, surpassing the volume of 6.6 million tons in 2020.
According to Anec, based on vessel schedules, Brazil could ship more soy than it did in February when shipments totaled 5.5 million tons.
Anec estimated the shipment of soybean meal at 1.9 million tons, a one million-ton increase over the same month last year after the association raised its forecast from 1.29 million tons last week.
Source: Money Times
