USDA Lifts Brazilian Soyabean Export Forecast

Grain

The US Department of Agriculture (USDA) has revised its forecast for Brazilian soyabean exports in the 2019/20 market year (Oct-Sep) upwards by 4.0 Mt from its June estimate to 89.0 Mt. Meanwhile, the forecast for Chinese soyabean imports was lifted by 2.0 Mt to 96.0 Mt, owing to the recent strong pace of exports from Brazil. This compares with an import forecast of 85.0 Mt as recently as January.