Brazilian Trade Data
Grain, Iron Ore
Brazil's iron ore exports dropped to a three-month low of 28.0 Mt in November, according to official data. This was down by 6.2 Mt on October but still up 2.0 Mt year-on-year. January-November shipments were up by 19.7 Mt on the same eleven months in 2014 at 326.7 Mt. Meanwhile, Brazilian soya exports (beans & meal) continued their seasonal decline in November, dropping to 2.6 Mt, although this was still more than double the year-ago level. Such counter-seasonal strength helped ensure that the 11-month export total of 67.4 Mt was up 9.0 Mt on the same period in 2014. Corn exports were similarly strong in November at 4.8 Mt, up 1.8 Mt year-on-year.