Brazil exporters association downsizes December corn, soy export forecast

Brazilian soybean exports should reach a volume of 1.75 million tonnes this month, according to a new projection by the National Association of Cereal Exporters (Anec), which updates its estimates weekly.

The volume is 1.1% lower than estimated last week and represents a drop of 30.8% compared to the total shipped in December 2021. Based on the current estimate, Brazil should close the year with total shipments of 78.1 million tonnes, 9.8% below 2021 (86.63 million).

Anec projects soybean meal shipments at 1.5 million this month, a 6.2% drop compared to last week’s projection.

Compared to a year ago, the volume remains practically unaltered. In 2022, the association foresees an increase of 21.8% to 20.5 million tonnes.

Corn

In the case of corn, Anec downsized its estimate for December by 3% to 6.5 million tonnes, slightly more than double the volume shipped in the same month of 2021. This year, the volume should total 43.7 million tonnes, up 112% from 2021.

Wheat 

Anec increased its wheat export estimate by 0.19% from a week ago to 697.9 thousand tonnes. The volume is up 29.5% from the same month last year. Shipments are expected to reach 3.2 million tonnes in 2022, representing a 190% increase over the previous year.

Source: Valor Econômico

To read the full original article, please click on: https://valor.globo.com/agronegocios/noticia/2022/12/20/anec-reduz-estimativas-para-exportacao-de-milho-e-soja-em-dezembro.ghtml

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