Brazil Soy Exports Hit All-Time High In August, Association Says
Brazilian soy exports hit an all-time high for the month of August, an industry association said, as many farmers resumed sales after delaying shipments in hopes of securing better prices amid a bumper 2016/17 crop.
According to cereals exporter association Anec, Brazil shipped 5.7 million tonnes of the oilseeds last month, about 500,000 tonnes above August 2015, which until now had seen the highest volume for the month yet.
Brazil has so far this year exported 57.6 million tonnes of the grain. The data show exports are on track to reach Anec’s 62 million tonne export forecast in 2017, the association said.
“This is the best result for soy exports within the same calendar year, even considering we are still four months away from yearend,” Anec said.
Brazil will export at least 3.2 million tonnes of soybeans in September, Anec predicted.
In a statement, Anec also revised its annual corn export forecast to 32 million tonnes from 30 million tonnes after a 67 percent annual rise in August exported volumes.