The Brazilian Association of Cereal Exporters (Anec) points out soy exports should reach 7.99 million tons in February, indicating a more optimistic range of scenarios compared to the previous week. Anec had pointed out exports would reach up to 7.63 million tons in the previous forecast, with a previous floor of 6 million tons. The revision comes amid a delay in harvest caused by late planting and rains since last month. More recently, however, some dry periods have allowed harvesters to enter the fields. In this scenario, Anec again has emphasized the vessel line-up to load soybeans out of Brazilian ports will go to the very limit. In February last year, the largest soybean exporter shipped 6.61 million tons. The entity also projects shipments of soybean meal at 960.06 thousand tons, a decrease when compared to the 1.248 million tons estimated last week. In February 2020, Brazil shipped 1.02 million tons of the product.
Source: Reuters
*Translated by Ia Niani