According to the USDA (United States Department of Agriculture) report released on July 12, Brazil should increase its soybean meal exports to 21.5 million tons in the 2022/23 season (from October/22 to September/23), thus becoming the world’s largest supplier of this by-product, ahead of Argentina (which is currently the main global exporter of soy derivatives). It is worth noting that Brazil has not led external bran sales since the 1997/98 harvest. According to Secex, in the partial season (until June/23), 15.26 million tons of oil have already left Brazilian ports – in addition to being a record for the period, this volume represents 71% of what was projected by the Department. As a result, soybean meal export premiums rose in Brazil, indicating greater growth for long-term contracts.
Sources: O Presente Rural/Datamar News