Brazil’s corn export pace soars in 1st week of October

On October 10, data from the federal government showed that the average daily export of corn from Brazil jumped to 377,450 tons in the first week of October, a volume more than three times higher than the 89,850 a day shipped in the same month last year.

Foreign grain sales advanced significantly this year after a full harvest in the second crop. In the previous cycle, the crops had been affected by drought and frost.

Data from Secex (Secretariat of Foreign Trade) also showed that the daily average of soybean shipments reached 261,590 tons in the first week of the month, against 164,640 tons a day in October last year, even after the crop failure that occurred in the South of Brazil in 2021/22.

Currently, the largest global producer and exporter of the oilseed is in the planting phase of the soybean harvest 2022/23, with prospects for a new record for the harvest, provided that the weather phenomenon La Niña does not damage the southern crops again with drought.

Also among the highlights in exports, the daily average of fresh beef shipments more than doubled to 11,120 tons, versus 4,110 tons exported per day in October last year, Secex data showed.

In September, the country renewed the monthly record in foreign sales of the protein, which had already been reached in August, amid firm demand from China.

With information from Forbes