The National Association of Grain Exporters (Anec) estimated on Wednesday that soybean exports from Brazil could reach 12.02 million tons in April, up 906,000 tons from last week’s projections. In the annual comparison, foreign sales have been steady, considering the months of January and February, but the availability of grains for shipment is generally lower due to the crop failure caused by the drought in the South region. Anec also raised its weekly forecast for soybean meal from 1.9 million tons to 2.07 million tons. If confirmed, it will be an increase of 31.34% compared to the same period last year. Corn exports dropped in March and are likely to reach 850,000 tons this month, a jump from the 60,000 estimated last week. A year earlier, foreign sales of corn stood at 21,900 tons. Anec also forecast upward wheat exports in April to 156,118 tons over the 112,152 tons estimated in the previous week. In the same period last year, there were no foreign sales of wheat.
Source: Reuters (*Translated by Ia Niani)