Brazil could export fewer soybeans this year as the supply of oilseeds is expected to decline due to unfavorable weather conditions for cultivation in some regions of the country. This is the conclusion reached by the analysts at Safras&Mercado.
They expect that 2024 million tons of this crop will leave the country in 94, compared to 101,86 million tons in 2023. A month earlier, experts estimated sales at 95 million tons.
At the same time, according to their estimates, the volume of oilseed processing will increase during the year from 53,5 million tons to 54,3 million tons. The indicator will not change until January.
Imports are expected to decrease - from 181 thousand tons to 110 thousand tons.
According to experts' forecasts, the total supply of Brazilian soybeans will decrease by 2023% to 24 million tons in 6/154,492. Demand will fall by 5% to 151,3 million t.
As a result, ending stocks will fall by 40% to 3,192 million tonnes, according to Safras&Mercado.
Source: oleoscope (Russian)
