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Soy: enquiries pick up in Brazil

July 12, 2023 at 12:21 PM , Der AUDITOR
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BRASÍLIA/BRUSSELS. Traders in Brazil are upbeat about soy. Not only did exports hit a record in June but enquiries are also up. EU soybean and soymeal imports have declined sharply in the first week of MY 2023/2024.

Busy traders in Brazil

Brazil’s soybean exports hit a record of 13.8 million mt in June as official customs data shows. This volume is 39% up on the 9.9 million mt shipped in June 2022 and beats the previous record of 12.7 million mt registered in 2021. For July ANEC, Brazil’s National Association of Grain Exporters, expects exports to reach 9.4 million mt, which would be 2.4 million mt up on July 2022. Soymeal exports should also climb to 2.2 million mt, which is 180,000 mt up on last year.

Local traders are also highly upbeat about current mark

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