StoneX raises soybean export and import projections in Brazil; sees record harvest.

StoneX raises soybean export and import projections in Brazil; sees record harvest.

The export of soybeans from Brazil was estimated at 81 million tons in 2020, informed this Tuesday the consultancy StoneX, which raised the projection by 1 million tons in comparison with the evaluation released in July.

With strong shipments from Brazil, the consultancy also increased the projection of oilseed imports by the country this year to 500 million tons, to 1 million tons, a volume that should help the processing industry to meet demands for soybean meal and oil in through tight stocks of national raw material.

Brazil’s 2020/21 soybean crop, which will be sown in September, was estimated at a record 132.6 million tonnes, the consultancy said in a report released to the press.

“This record is the result of a planted area, in 38 million hectares, and a recovery in productivity, after the strong fall registered by Rio Grande do Sul in the 2019/20 cycle”, said StoneX.

Source: noticiasagricolas.com.br