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Brazil exports less soy, sugar in February; boosts soymeal, corn

Brazil shipped less soybeans and sugar to foreign buyers in February compared with the same month a year before, but boosted exports of corn, soymeal and soyoil, according to official data released. Numbers from Brazil’s Trade Ministry show the country shipped 2.86 million tonnes of soybeans in February, 650,000 tonnes less than in the same period in 2017, likely the results of delays in planting and harvesting of the oilseed this year. But there were large increases in shipments of soy byproducts. Brazil exported 1.35 million tonnes of soymeal last month, almost double the volume seen a year earlier, and shipped 125,641 tonnes of soyoil versus 75,565 tonnes last year. Argentina, a global leader in soy byproducts exports, is going through a harsh drought, and there is expectation that the country will have less soy meal and soy oil to sell this year. It is unclear, however, whether buyers are moving to secure supplies in other producing countries such as Brazil. Corn exports were high as well, at 1.25 million tonnes, more than 700,000 tonnes above the volume reported in February 2017.

Sugar shipments came in a lot lower, at around 1 million tonnes, half a million tonnes below February 2107, as mills grapple with a global oversupply of the commodity and have opted to produce more ethanol than the sweetener at the final stages of the crop late last year. There was also a large drop on crude oil exports, both compared with last year and with January.

The following is selected data on Brazil’s commodities exports according to data released by the country’s Trade Ministry:

Commodity February 2018 January 2018 February 2017

COFFEE(60 KG BAG) 2,250,202 2,618,395 2,308,197

CRUDE OIL (TNS) 3,635,915 5,497,309 6,225,832

ETHANOL (LTR) 61,289,910 121,200,503 60,310,811

SOYBEANS (TNS) 2,864,252 1,563,589 3,509,447

CORN (TNS) 1,254,402 3,021,529 487,369

IRON ORE 23,785,102 30,439,950 25,731,764

FROZ. ORANGE J.(TNS) 49,267 35,049 20,331

NON-FROZEN OR. J.(TNS) 150,699 126,690 125,112

SUGAR RAW (TNS) 1,028,084 1,270,668 1,541,800

PORK (TNS) 35,715 45,284 44,099

POULTRY (TNS) 288,867 305,423 300,873

BEEF (TNS) 98,103 99,544 79,088
Source: Reuters (Reporting by Marcelo Teixeira; editing by Jonathan Oatis)

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