Brazil hits record soybean exports in 2021; corn falls to lowest level since 2012

RIO DE JANEIRO, BRAZIL – Brazil ended 2021 with shipments of 86.63 million tons of soybeans, compared to 82.3 million the previous year, a new record for the country, while foreign sales of corn plummeted, the National Association of Cereal Exporters (Anec) said on Tuesday.

The data showed that the previous record had been reached in 2018 when Brazil sent 83.78 million tons of soybeans abroad.

The association said in a statement that, of the total, almost 60 million tons were destined for China last year, the leading buyer of the commodity.

As for production, Anec highlighted that a historic high in the Brazilian harvest contributed to the positive export performance.

“The Brazilian soybean harvest reached its highest production in the 2020/21 season: 137.1 million tons. This result promoted a 6% increase in the commodity’s exports compared to the previous period,” the entity said.

Corn
In contrast, foreign sales of corn reached 20.55 million tons in 2021, the lowest level since 2012, when the country exported 19.8 million tons of grain, according to the data.

In 2020, corn shipments had reached 33.4 million tons but dropped sharply last year due to climate problems in the second crop 2020/21, with drought and frost.

The association also pointed out that about 1.47 million tons of corn were destined for domestic demand.

“Due to the fluctuation of the amount of corn available for export, the international trade market is faced with a large number of contract buybacks (washout) and its consequences, such as rescheduling of ships, logistic changes, new sales contracts, etc.”, it added.

As for soybean meal, shipments accumulated 16.9 million tons last year, compared to 16.4 million in 2020, and the highest level for the historical series since 2011.

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