Agriculture Market of Soybeans

Brazilian soybean exports hit record volume in 2018

Brazil’s soybean exports must amount to 79 million tons in the 2019/20 business year (from February 2019 through January 2020), down 4% from a record volume of 82.5 million tons in 2018/19. The forecast is part of the Brazilian supply and demand report disclosed by SAFRAS & Mercado.
SAFRAS indicates a crush of 40 million tons in 2019/20 and 41.2 million tons in 2018/19, representing a decrease of 3% from one season to the other.
Owing to the trade war, soybean exports surprised this season, beating all expectations. Even if there is no agreement between the US and China, exports in 2019 must be smaller, still very high.
In relation to the 2019/20 season, total soybean supply must fall by 4% to 122.183 million tons. Total demand is projected by SAFRAS at 122.15 million tons, 4% lower. Thus, ending stocks will likely rise 22%, from 27 to 33 thousand tons.

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Dylan Pasqua

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