Brazil’s soybean crop and exports for 2023 have been revised upwards, according to the Brazilian Association of Vegetable Oil Industries (Abiove). Production in Brazil is likely to be a record 156.5 million tons, up around 500,000 tons over the previous month’s forecast. Soybean exports from Brazil are expected to reach 97.5 million tons this year, up 500,000 tons from the previous forecast. Brazil is expected to process 53.5 million tons of soybean, up 300 thousand tons from the previous forecast. Brazil’s soybean meal exports are expected to increase by 100,000 tons this year, reaching 22 million tons.
Source: Forbes Agro (*Translated by Ia Niani)