About 1.8 million tons of soybeans can be sold to foreign markets by Brazilian traders in December 2022. Analysts of the National Association of Grain Exporters Anec made this forecast. They raised their estimate of oilseed exports by 0.1 million tons relative to the previous one.
At the same time, according to experts, the supply of Brazilian soybeans abroad will decrease by 0.2 million tons over the month and by 0.7 million tons compared to December 2021.
The situation with shipments of soybean meal from the country this month is reversed: Anec expects deliveries at the level of 1.6 million tons, which is 0.1 million tons higher than in November 2022 and December 2021.
Serious drought
Recall that last season, Brazilian farmers faced a serious drought, which did not allow farmers to harvest the expected amount of soybean crop (the final figures for 2021/22 MY are approximately 125 million tons). At the beginning of this season, some agricultural producers were in no hurry to sell the oilseed that had not yet been harvested against the backdrop of the experience of the last MY. Now the situation with sowing in the country is going well.