Brazil exported 15.6 million tons of soybeans in May, the second-highest monthly volume in history, behind only shipments registered in April 2021, according to data from the Foreign Trade Secretariat (Secex). Brazilian soybean exports are being propelled by strong foreign demand outside of China in addition to a record crop. Even the United States has been looking for the product in Brazilian ports, where costs have been driven down by a bumper crop that is attracting customers. Argentina imports extra oilseeds this season to meet demand from consumers of soybean meal and oil. Exports from Brazil increased by around 5 million tons compared to May last year.
Source: Reuters (*Translated by Ia Niani)