Record Soybean Production in Brazil

Record production in Brazil

Brazil’s soybean production is expected to reach a record 153 million tons this year, hitting a record high, according to a report released by Safras & Mercado on January 20. Brazil’s soybean exports are expected to be 93 million tonnes in 2023, unchanged from the November forecast and up 18% from 78.9 million tonnes in 2022. Brazil’s soybean supply is expected to increase by 16% year-on-year to 157.198 million tons. Total demand was 148.5 million tons, up 12% year on year. Ending inventories are expected to rise 133 percent year on year to 8.698 million tonnes from 3.72 million tonnes.

EU soybean imports

EU data show that the 27 EU countries from 2022 to 22 January 2023 (from July 1) imported about 6.08 million tons of soybeans, down from 7.47 million tons in the same period last year. Of this amount, the United States supplied 2.97 million tons (48.8%) and Brazil supplied 1.76 million tons (29.0%). Import volume is lower than the same period last year.

Current Market Price in China for 2020 CROP soybean

Import/Export Statistics

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