Brazil’s soybean exports are expected to total 99 million tonnes in 2024, up from 98 million in 2023, representing a 1% increase between seasons. The forecast is part of Safras & Mercado’s Brazilian supply and demand overview. The consultancy predicts a 4% increase in soybean crushing, from 53 million tonnes in 2023 to 55 million in 2024. As for imports, a drop from 130,000 to 110,000 tonnes is expected between the two seasons. Regarding the total oilseed supply, the projection indicates a 6% increase, reaching 168.871 million tons. Total demand is projected at 157.7 million tonnes, a 2% increase from the previous year. Final stocks are expected to rise by 103%, from 5.5 million to 11.2 million tonnes.
Sources: Globo Rural/Datamar News