Brazilian Iron Ore, Soya and Corn Exports in June

Grain, Iron Ore

Brazilian iron ore shipments climbed to an eight-month high of just over 30.0 Mt in June from 21.6 Mt in May, preliminary government data show. However, significant supply constraints in the preceding months meant total 1h20 shipments dropped by 17.1 Mt to a seven-year low of 145.4 Mt.

Meanwhile, soyabean exports surged by 5.1 Mt year-on-year to 13.8 Mt last month, although shipments have eased since peaking in April. Soyameal exports were flat on the year at 1.7 Mt. Brazil exported a record 51.0 Mt of soya (beans & meal) in the 2q20, over 13 Mt higher than the previous high achieved in 2q18.

Corn exports edged higher from four-year lows of less than 0.1 Mt in both April and May to 0.4 Mt last month.