No soybean exports scheduled until March due to delay in harvest

According to the monitoring done by consulting firm Safras & Mercado, Brazilian ports begin 2021 without soybean shipments scheduled in January or February.

“With the delay in the harvest, a very low volume was expected in January, and this should be confirmed,” said Luiz Fernando Roque, an analyst at Safras & Mercado. In addition, the rise in the dollar and prices stimulated shipments of large volumes of the grain in 2020, which reduced exports to be made in early 2021.

The report by ANEC (the national association of cereal exporters), released on December 30, 2020, already indicated that that week there would be no movement of oilseeds in ports. In January 2020, shipments of soybeans totaled 1.6 million tons; in 2019, there were 2.2 million tons handled.

Brazilian soy exports ended 2020 at 82.2 million tons, according to ANEC. The volume is 13.66% higher than the 72.4 million shipped in 2019 but does not exceed the record of 83.2 million tons shipped in 2018. In the estimates of Safras & Mercado, Brazilian exports will total 83 million in 2021.

Consult the chart below for the history of Brazilian soy exports since 2017:

Brazilian Soy Exports (HS 1201) | Jan 2017 to Oct 2020 | WTMT

Graph source: DataLiner (To request a DataLiner demo click here)

Report source: Valor Econômico

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