Brazil monthly soybean exports for April set to break all-time high

25.04.2018

Brazilian soybean exports in April are set to hit 10.99 million mt, breaking the previous record reached in May 2017, Brazilian customs and ship line-up data show.

Brazil exported 7.4 million mt of soybeans during the first three weeks leading up to April 20, at an average of 495,700 mt per working day, customs data shows, faster than the daily average of 419,700 mt during last month, when a total of 8.81 million mt was exported.

That daily rate is set to increase to 593,000 mt during April’s final week as an additional 3.56 million mt of Brazilian soybeans is lined up to leave Brazil by April 30, shipment line-up data shows.

About 734,000 mt of soybeans are scheduled to leave the port of Paranagua between April 23 to April 30, with 978,000 mt to leave Santos and 556,500 mt to depart from Rio Grande over the same week.

This final push in soy exports before Brazil’s Labour Day break on May 1 will propel total April exports to a new all-time high of just under 11 million mt, beating last April’s total of 10.43 million mt and May 2017's total of 10.96 million mt, the current all-time high.

China snatches largest share

China will pick-up the bulk (62%) of this week’s outbound volume with 2.21 million mt labelled with China as its destination, of which 492,000 mt will depart from the port of Paranagua and with 723,306 mt leaving Santos.

A total of 376,500 mt of soybeans are set to leave Rio Grande this week destined for China.

Finally, 434,845 mt of soybeans were labelled as unknown destinations.


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