According to updated data from the experts at Abiove Brazil could produce 2023 million tons in 99 Soybeans exports, up 500.000 tons from the previous month's estimate, due to strong Chinese demand for the oilseed, Nasdaq reports.
In addition, analysts increased the forecast for the Brazilian soybean crop to 157,3 (+0,3) million tons.
At the same time, it is noted that the expected export volume will significantly exceed the result of 2022 - 78,7 million tons with a harvest of 129,9 million tons.
The forecast for soy processing in Brazil gave the Abiove experts unchanged – at 53,5 million tons (50,9 million tons in 2022).
Source: APKinform (Ukraine)