BRAZIL TO EXPORT 96 MILLION TONS OF SOYBEANS IN 2024

Safras & Mercado revised its projections for Brazil’s soybean exports to 96 million tons in 2024, up from the previous estimate of 94 million tons. Despite the 6% drop compared to 2023, this forecast indicates a significant export volume. The consultancy also forecasts an increase in soybean crushing to 54.3 million tons this year, with an expected import of 650 thousand tons. Total soybean production is expected to fall by 4%, while total demand is projected to fall by 4%, leading to a 30% reduction in ending inventories.
Source: Canal Rural (*Translated by Ia Niani)