Brazil is expected to export 15.4 million tonnes of soybeans in March, an increase of around 500,000 tonnes compared to the previous week’s soy forecasts, said the National Cereal Exporters Association (Anec) on Tuesday, March 21, which now sees growth in the first quarter compared to 2022. If the expectation is confirmed, Brazil should increase its exports in the first quarter of the year by around 330 thousand tonnes compared to the same period last year, thanks to a substantial increase of 3.2 million tonnes compared to the total shipped in March 2022, according to Anec data, which consider shipments and vessel scheduling. Brazilian soybean exports are now estimated at 23.88 million tonnes for the first quarter, up from 23.55 million in the same period last year. Such an increase in expectations takes place amid a record Brazilian harvest, which should exceed 150 million tonnes, up 20.6% compared to last year. The expected increase in March happens with the country having harvested more than half of its soybean crop, although the pace of work is slower in 2023 compared to 2022. Until last week’s forecast, Anec had seen growth in shipments in March but not in the quarter. The increase in exports is in line with figures released by the government, which reported a rise in exports in the third week of the month.

Source: Datamar News