Brazilian soybean exports exceeded the 10 million ton mark in April. That's near a historic monthly high. The farmers are currently benefiting from the trade dispute between the US and China.
In April 2018, Brazil exported 10.26 million tonnes of soybeans. This is just under the 10.47 million tonnes in April 2017 and not far from the previous month's record in May 2017, when 10.96 million tonnes were exported.
After China announced its plans to impose a 25% penalty on US soybeans in April, Chinese buyers immediately switched to Brazilian sources.
Brazil will once again record a record harvest of around 117 million tons this year, setting the previous year's record of 114 million tons.
Sören Schröder, the CEO of Bunge International yesterday said that Brazil and Canada will increase their supplies to China. FCStone estimates that Brazil will further increase its export record this fiscal year, exporting more than 70 million tons of soybeans due to trade disputes. Argentina, the world's third largest exporter of soybeans, will only make a much smaller soybean harvest this year.
Text: HANSAFutures Trading GmbH /
