Brazil and US Soyabean Exports Forecast to Rise
Brazilian and US soyabean exports in 2019-20 were forecast higher this week because of expectations for increased Brazilian production and stronger Chinese demand. The forecast for China’s 2019-20 (Oct-Sep) soybean imports was lifted by 3.0 Mt to 88.0 Mt, according to the US Department of Agriculture.
Brazilian soyabean exports in 2019-20 (Oct-Sep) were revised up by 1.0 Mt from January to 77.0 Mt, provisionally a record high. Shipments peaked at 76.1 Mt in 2017-18, then fell slightly to 74.6 Mt in 2018-19.
US soyabean exports were projected at 49.7 Mt in 2019-20 (Sep-Aug), up by 1.4 Mt from last month’s estimate. The US exported 47.6 Mt of soyabean in 2018-19, down from 58.1 Mt in 2017-18. As part of last month’s US-China Phase 1 trade deal, China pledged to buy more US agricultural and energy products.