ANEC raises forecast for Brazilian soy exports, but expects drop in June

RIO DE JANEIRO, BRAZIL – Brazil’s total soy exportation is expected to reach 11.5 million tons in June, against estimates of up to 11 million last week, but shipments would still fall short of the 11.9 million tons recorded in the same month last year, the National Association of Cereal Exporters (ANEC) pointed out on Tuesday.

The estimated soy meal export from Brazil was also raised to 2.13 million tons, from 1.96 million tons last week, with a strong increase over June last year (1.39 million tons), according to ANEC’s figures based on cargo ships’ schedule, which still shows no projections for shipments of Brazilian corn this month.

Should ANEC’s figures be confirmed, soy exports would close the first semester at 61.8 million tons, against 82.3 million tons for the whole of last year.

Yesterday, the soy industry association (ABIOVE) raised its projection for soy exports in the year to a record 85.7 million tons, amid lower domestic processing and strong foreign demand.

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