Brazil expects lower export volumes in April

Soy: Brazil expects lower export volumes

Soybeans rose yesterday, although the gains were lower than in recent days. Soybean meal, on the other hand, increased in price again. The slow start to the harvest in Argentina compared to the average of recent years is providing slight support here. In Brazil, on the other hand, the harvest is well advanced with progress of 87%. The Brazilian Grain Exporters Association has revised its expectations for soybean exports in April downwards by a good 300,000 tons to 13.48 million tons. The trade association is also more pessimistic about soybean meal exports. New export bookings are expected in the USA today. Traders estimate these at between 300,000 and 900,000 tons. While it is too dry in many wheat-growing regions of the USA, the main soybean areas in the Corn Belt are expected to receive large amounts of rainfall in the coming days, which is likely to delay sowing. Pre-market soybeans and soybean meal are showing red signs today. Soybean oil is also trending weaker.

Brazil expects lower export volumes in April
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