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Brazil’s corn exports reach 2.1 mil mt so far in Nov: trade department data

Brazil exported 2.1 million mt of corn so far in November, data released by the country’s trade department showed Tuesday.

For the whole month of November 2018, Brazil exported a total 3.65 million mt of corn, according to the data.

Although the pace of corn exports eased in the first week of November compared with previous months in 2019, daily average exports in November have been at 211,400 mt compared to 182,300 mt in November 2018, the data showed.

Over July-October, monthly corn exports were either close to or higher than 6 million mt.

Brazil’s national agricultural agency Companhia Nacional de Abastecimento, or Conab, revised the forecast for corn exports during marketing year 2018-19, which refers to the February 2019-January 2020 period, up to 39 million mt from 38 million mt projected in October.

Brazil exported 32.95 million mt of corn over February 1-November 15, according to the trade department data.

Moreover, data from a private shipping company showed 4.86 million mt of corn was lined up for exports in November at Brazilian ports as on Friday.

Japan, Iran and Vietnam were the top destinations for Brazil’s corn exports in November, the shipping company data showed.

The South American producer has stepped up its corn exports as the US, the world’s largest exporter of the product, struggles with a delayed corn harvest.
Source: Platts

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