Brazil's soybean exports will hit a record high as US market is out and Chinese demand strong

Data from the grain exporter Anec showed that Brazil's soybeans exports will surpass the annual volumes of 2024 and even 2023 due to the absence of U.S. rivals serving Chinese importers.

According to Anec, the previous record for soy exports from Brazil was 101.3 million tonnes in 2023.

Brazil's soybean farmers will harvest a record crop of more than 170 million tonnes in 2025. This is in addition to the strong demand from China, who are embroiled in an ongoing tariff war with America.

Anec stated that "China remains the primary destination and driver for Brazilian soy exports."

Anec data revealed that China imported 6.5 millions tons of goods from Brazil in September. This represents 93% of Brazil's total export volume, a share which is historically high.

China, which relied primarily on Brazil for supply, secured 79.9%, as opposed to 74%, of Brazil's total soya exports between 2021-2024. Anec reported that China's share in 2024 was 76%.

Anec released its first monthly shipment report in October. The company projects that shipments will be 7.12 million tonnes, which is almost 2.7 millions tons more than the same month of last year.

Anec estimates that 110 millions tons of Brazilian soya beans will be exported in the current calendar year.

The association stated that "between November and December another 8 million tonnes are expected to ship, correlating with the annual estimate 110 million tons."

This month, corn shipments increased by about 380,000 tonnes compared to the previous year.

The Brazilian grain exports were estimated to be 30 million tonnes in the year up until October. This makes Brazil the second largest exporter behind the United States.

(source: Reuters)