Articles By Marcela Caetano
Brazilian corn exports reached 3.4 million tonnes in the first four weeks of November, while soybean exports amounted to 2.2 million tonnes, customs data showed on Monday November 25.
Soybean sowing advanced 16 percentage points in the week to November 20, reaching 35.8% of the projected area of 18.6 million hectares, according to a Buenos Aires Grains Exchange (BAGE) report released on Thursday November 21.
Argentina’s soybean sowing area estimate for the 2024/25 crop was raised by 0.6%, to 17.9 million hectares, while the wheat output was projected at 17.6 million tonnes, the country's Secretariat of Agriculture, Livestock and Fisheries (SagyP) monthly report showed on Thursday November 21.
US soybean net sales rose by 20% to 1.86 million tonnes in the week to November 14, from the previous week's 1.5 million tonnes, landing within market projections, while the export pace increased by 5%, weekly data from the USDA showed on Thursday November 21.
The Brazilian Association of Vegetable Oil Industries (Abiove) projects Brazilian soybean output to reach 167.7 million tonnes in 2024/25, up by 9.4% on the year, while soybean exports were forecast at 104.1 million tonnes — both record levels — in its first estimate for the new crop year, its monthly report showed on Tuesday November 19.
Brazilian corn exports amounted to 2.8 million tonnes in the first three weeks of November, while soybean shipments totaled 1.5 million tonnes in the same period, customs data showed on Monday November 18.
Brazilian food agency Conab has increased its estimate for the country's soybean crop in 2024/25 to 166.14 million tonnes and corn output was raised to 119.8 million tonnes, following favorable weather for crop sowing and development, while increasing soybean 2024 export estimates to 98 million tonnes, its monthly report showed on Thursday November 14.
Brazilian grain exporters association Anec increased its estimates for corn, soybean and soymeal exports in November, but all projections remained below the same period of last year, its weekly report showed on Tuesday November 12.
Export inspections of US soybeans were down by 1.29% to 2.27 million tonnes in the week ended Thursday November 7, from the 2.3 million tonnes recorded a week earlier, within the range of analysts’ expectations, data from the USDA showed on Monday November 11.
Brazilian corn exports amounted to 1.7 million tonnes in the first two weeks of November, while soybean shipments totaled 1 million tonnes in the same period, customs data showed on Monday November 11.
Brazil’s soymeal exports totaled 2.3 million tonnes in October, up by 24.4% year on year, their highest for October and the third highest in the historical series dating back to 1997, official customs data showed.
The US Department of Agriculture has reduced its estimate for US soybean production, exports, crush and ending stocks, landing below market participants’ average estimate, the World Agricultural Supply and Demand Estimates (WASDE) report showed on Friday November 8.
Brazilian soybean export estimates in 2024 were cut to 98 million tonnes, from the previous forecast of 99 million tonnes, due to smaller-than-anticipated shipments in October, while corn exports were reduced to 39.5 million tonnes, Brazilian grain exporters’ association Anec said in its weekly report on Thursday November 7.
President-elect Donald Trump’s victory in the US could bring different outcomes across the soybean complex. A potential trade war with China could have several impacts on global commodity markets, especially beans, with Chinese demand potentially shifting to other origins such as South America, sources have told Fastmarkets.
US weekly soybean net sales for the 2024/25 crop year totaled 2 million tonnes in the week to October 31, down by 10% from 2.27 million tonnes the previous week and landing within market estimates, the USDA reported on Thursday November 7.
The USDA is expected to reduce its US soybean production and yield estimates for the 2024/25 crop year and cut its forecast for both global and US ending stocks in its World Agricultural Supply and Demand Estimates (WASDE) report to be published on November 8, a Fastmarkets poll of eight traders and analysts showed on Wednesday November 6.
Export inspections of US soybeans were down 17.8% to 2.15 million tonnes in the week ended Thursday October 31, from the 2.62 million tonnes recorded a week earlier, within the range of analysts’ expectations, data from the USDA showed on Monday November 4.
Soybean sowing reached 10% of the projected area of 6.8 million hectares in Brazil’s Rio Grande do Sul in the week to Thursday October 31, while weather conditions remain favorable for corn crops, state agency Emater/RS said in a report released late on Thursday.
The 2024/25 soybean sowing process has begun in Argentina and has reached 3.3% of the projected area of 19 million hectares, the Buenos Aires Grain Exchange (BAGE) said in its weekly report on Thursday October 31.
The USDA’s attaché in Argentina increased its estimates for the country’s soybean output in the 2024/25 marketing year by 1 million tonnes to 52 million tonnes, while also increasing its harvested area and soybean crush forecasts, a report released late on Wednesday October 30 showed.