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Brazilian Iron Ore, Corn and Soya Exports Fall in October

Grain, Iron Ore

Brazilian iron ore exports declined 2.9 Mt year-on-year to 31.2 Mt in October, preliminary government data show. A smaller number of working days limited monthly loadings, with 20 days this year compared with 22 in October 2019. Exports decreased to 279.8 Mt in January-October, down 16.9 Mt.

Meanwhile, corn loadings fell 0.9 Mt to 5.2 Mt last month, weighing on year to date exports (-8.4 Mt to 25.9 Mt).

The country’s soyabean shipments dropped 2.6 Mt to 2.5 Mt in October, while those of soyameal inched down less than 0.1 Mt to 1.4 Mt. Nonetheless, stronger exports earlier in the year lifted soyabean and soyameal year to date loadings to 82.2 Mt (+16.1 Mt) and 14.7 Mt (+0.9 Mt), respectively.