Brazilian Iron Ore and Grain Exports in February
Grain, Iron Ore
Government data show Brazilian iron ore exports dropped to a 13-month low of 25.7 Mt in February, down by 4.2 Mt year-on-year, as a short month and public holidays contributed to a reduction in cargo volumes. At 54.7 Mt, Brazilian iron ore exports in the first two months of the year were still only slightly below the year-ago level.
Meanwhile, trade data showed sharply contrasting fortunes for Brazilian corn and soya (beans & meal) exports in February. Soya shipments rose by 1.3 Mt year-on-year to 4.2 Mt, a record for February, whereas by contrast, corn exports were down by 4.9 Mt at a five-year February low of 0.5 Mt. Brazil exported less than 2 Mt of corn in the first two months of 2017, compared with almost 10 Mt in the same period last year.