Brazil’s corn exports are on track to surpass 30 million tons by 2019, nearing an annual record, according to a revised projection from the National Association of Cereal Exporters (Anec), which remains cautious about soyabean shipments this year despite a recent warming of business. “We have been talking between 28 and 30 (millions of tons of corn), today we are working with 30, with the possibility of even more than that,” Lucas de Brito, an executive assistant at Anec, told Reuters. an association that brings together companies such as ADM, Cargill, Amaggi, CHS and Cofco, among others. According to Anec data, the historical export record was set in 2015 with 30.7 million tons. If confirmed, the volume would have surpassed last year’s 22 million tons, when a significant crop failure undermined Brazil’s performance, which in recent years has been in second place among the largest exporters, behind only the United States. This year, unlike 2018, indications are of a record harvest of almost 100 million tons of cereal, according to data from private consultancy AgRural. “Market conditions are really (explaining this export forecast). The price is not being an impediment, the profitability with the business is proving favorable, and it is having a positive demand in the international market,” explained Brito. In the year to the third week of May, Brazilian corn exports totaled 5.2 million tons, according to data from Anec, which accounted for only 3.3 million tons in the same period last year.

Source: Reuters