Brazil's Soybean Exports Declined in the First Week of April

In the first week of April, Brazil recorded an average daily soybean export of 726.5 thousand metric tons, marking a 9% decrease compared to the same period last year, according to data released by the Secretariat of Foreign Trade (Secex) on Monday.

Over the course of five business days in the month, the country exported a total of 3.6 million metric tons, a lower volume considering the usual large shipments characteristic of this time, which marks the beginning of the harvest of the new crop. The National Association of Grain Exporters (Anec) indicated a decline in shipments this April compared to the same period in 2023, attributing this decline to crop losses.

Additionally, the first preview of the month revealed a significant increase of 83.5% in coffee exports, totaling 14 thousand metric tons per day, compared to the previous year.

These numbers indicate a challenging scenario for the Brazilian agricultural sector, especially regarding soybean exports, underscoring the importance of closely monitoring the impacts of the current harvest and market trends in the coming months.