Active export of soybeans from Brazil puts pressure on world prices

in March, Brazil exported 11,64 million tonnes of soybeans in April, exports grew to a record 16.3 million tons of soybeans, which is much higher than in April 2019 from 9.4 million tonnes, according to Reuters.

the Previous record was set in may 2018, when it was exported 12.35 million tons of soybeans.

Experts believe the country will continue to export soybeans in may-July, although smaller than in April, volumes. Thus, according to Safras & Mercado, in may, will be exported 9 million tons of soybeans.

the United States for the week reduced soybean exports by 43% to 318тис tons of soybeans, which is significantly below the average annual rate of export week, which is 976 thousand tons.

Dry and warm weather in the Midwestern United States accelerated sowing of soybeans and corn. As of may 3 soybeans planted in the U.S. 23% of areas compared to 5% last year and 11% on average for 5 years at that date.

the July soybean futures in Chicago yesterday continued to decline and fell by 1.5% to 307,25 $/t under the pressure of deteriorating relations between the US and China, which can dramatically reduce the purchase of us beans in the main world importer of soybeans.

as a Result of the depreciation of the Brazilian real, the price of Brazilian soybeans fell to 3-4 $/t 337-338 up to $/t FOB Brazill. It is also worth Argentine soybeans on FOB Argentina.

After them, prices for U.S. soybeans dropped another 3-4 $/t 330 $/t FOB US Gulf.