Brazil Soybean exports are expected to total 80.5 million tons in 2022, down from the 86.1 million tons in 2021. SAFRAS expects an increase of 2% of crushed cane, with 47.5 million tons in 2022 compared to the 46.5 million tons crushed in 2021. Imports are expected to reach 1 million tons, with an increase of 16% over the previous year. The total supply of soybeans is expected to decline 6% in 2022 to 133.97 million tons. Soybean meal is likely to reach 36.55 million tons, with an increase of 3% according to the entity. Exports are expected to rise 6% to 18.2 million tons, while domestic consumption is projected at 18.3 million, up 2%. Stocks are expected to rise 3% to 1.96 million tons. Soybean oil output is expected to increase by 3% to 9.65 million tons. Brazil should export 1.7 million tons, up 3% over the previous year. Domestic consumption is expected to drop 2% to 8 million tons. The use of soybean oil used for biofuel is expected to drop by 2% to 4.1 million tons. Stocks are likely to rise 29% to 223,000 tons.
Source: Safras & Mercado (*Translated by Ia Niani)