Conab, Brazil’s National Supply company, projects total Brazilian soybean exports in 2023 to reach 95.64 million tons, reflecting a 21.5% growth compared to the previous year.
Soybean exports in July reached 9.7 million tons, supported by by international price increases and positive premiums at port terminals. Chicago futures prices rose in July 5.48% over June and remain 2.79% lower than July 2022.
Uncertain prospects for soybean harvests in the USA are helping Brazilian exports and export prices.