BRAZIL: SOY YIELDS AND CRUSHING REMAIN STABLE; EXPORTS SHOW GROWTH

The Brazilian Association of Vegetable Oil Industries (Abiove) reported stable soybean production in August, with exports continuing to rise. Total soybean grain production is forecast at 153 million tonnes. Soybean crushing is expected to reach 54.5 million tonnes, while soybean meal and oil production are projected at 41.7 million and 11 million tonnes, respectively. August saw a 1.6% decline in soybean processing compared to July 2024 and a 2.1% drop from August 2023. Soybean grain exports remain steady at 97.8 million tonnes, with slight increases in soybean meal and oil exports. Import projections also rose, with soybean grain imports expected to reach 1 million tonnes and oil imports 150,000 tonnes. Total revenue from soybean complex exports is forecast at USD 54.1 billion for 2024.
Sources: O Presente Rural and Abiove / Datamar News