Brazilian soybean exports plummeted in January on ebbing supplies, as farmers sold almost all their old crop soybean stocks, market sources told S&P Global Platts Jan. 19.
According to a report at Hellenic Shipping News, Brazil exported 17,500 MT in the first half of January, compared with 630,000 MT shipped out in the same period last year, data released by Brazil’s foreign trade department showed Jan. 18.
According to analysts, Brazil is likely to export close to 290,000 MT in January, against 1.4 million MT in the corresponding period last year.
Due to harvest delay, Brazilian soybeans shipments are expected to pick up pace in February.
