Brazil’s Anec raises 2022 soybean export forecast to 75.5 mln T

Anec, an association representing global grain traders that operate in Brazil, rose the country’s 2022 soybean export forecast by 1.5 million tonnes, citing fresh shipping schedules information.

Brazil, the country’s biggest soybean supplier, is now expected to export 75.5 million tonnes of the oilseed in 2022, up from 74 million tonnes previously, according to a statement containing the new data.

Most of Brazil’s soybean exports go to China.

Anec also revised its October export forecast for Brazilian corn. Earlier in the day, Anec said corn exports for the month would total 4.2 million tonnes.

Now, the association forecasts corn exports ranging from 4.2 million tonnes to 5.5 million tonnes, the statement said.

Brazil ships most of its corn in the second half, when it competes more fiercely with the United States on global markets.

Anec’s yearend corn export view remained unchanged at 41 million tonnes, according to a spokeswoman.
Source: Reuters (Reporting by Ana Mano;Editing by Elaine Hardcastle)