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IGC Raises Latin American Grain Export Forecasts

Grain

The International Grains Council (IGC) has raised its forecast for Argentine and Brazilian soyabean exports in the 2015/16 harvest year (Oct-Sep) for the second month running, citing abundant supplies and increased demand from China. Brazilian soyabean exports are now forecast at 55.0 Mt, up 0.5 Mt, and Argentine shipments at 11.6 Mt, up 1.6 Mt. Growth in Chinese domestic soyabean demand is primarily being driven by the feed industry, the IGC reports, with annual consumption forecast at a new high of 93.8 Mt in 2015/16 and imports predicted to total a record 81.0 Mt.