Anec forecasts record soybean exports from Brazil in March

10 March 2021, 07:35

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The National Association of Grain Exporters of Brazil (Anec) forecast a record 13.8 mln t of soybean exports from the country in March 2021 (March 2020: 13.3 mln t), Reuters reports.

Anec's estimate was based on vessel shipment data and indicates a strong increase compared to February when the country shipped 5.5 mln t, the association data show.

Soybean meal shipments are estimated at 1.146 mln t, up from 1.5 mln t in February 2020.

Experts estimate only 62,800 t of Brazilian corn exports in March due to low stocks and the dominance of soybeans on the market.

Related: Soybean Deficit in Ukraine

According to business development manager at Maxigrain Elena Neroba, oil crushing plants in Ukraine purchased 51.6 thou. t of Brazilian soybean for March loading.