Brazil is on the verge of breaking a record by exporting 100 million tons of soybeans in a single year. According to the Ministry of Development, Industry, Trade, and Services (MDIC), exports topped 5.19 million tons in November, increasing the total for the year to slightly over 98 million tons. It is not typical for Brazilian soybeans to have such a high demand at the end of the year. Only in 2018 and 2019, did the exports exceed 4 million tons. This year, Brazil has sustained its exports far beyond what was expected based on historical data.
Sources: BiodieselBR.com/Uniao Nacional da Bioenergia (*Translated by Ia Niani)