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ANEC Lowers Brazil's Soybean Export Forecast, but June Still on Track for Record High

Writer's picture: Ipasai NewsIpasai News
soybean export

The National Association of Grain Exporters (ANEC) has revised its soybean export forecast for Brazil in June down to 14.50 million tons, a reduction of 380,000 tons compared to last week's projection. Despite this decrease, the export volume is still set to be the highest ever recorded for June.


The updated forecast indicates an increase of approximately 660,000 tons compared to June last year and over 1 million tons more than in May this year. If confirmed, this will mark the largest monthly volume of the year. Last June's soybean shipments were the highest ever for the month, totaling 13.8 million tons.


ANEC also adjusted its soybean meal export projection to 2.2 million tons for June, down from 2.59 million tons last week, maintaining a stable comparison with the same month last year.


Meanwhile, Brazil's corn export forecast for June is estimated at 1.06 million tons, about 170,000 tons lower than the same month in 2023. Last week's forecast was 1.02 million tons for June.


Combining these three products, the total projected exports for June are expected to reach 17.8 million tons, over 500,000 tons more than the same month last year and the highest monthly total since August 2023, which saw a record 18.8 million tons exported.

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