Oilseeds - Oilseeds

Soy: traders simply refuse to be shocked

July 21, 2023 at 10:27 AM , Der AUDITOR
Play report as audio

BRASÍLIA/CHICAGO. While Russia’s decision to pull out of the Black Sea Grain deal has failed to impress the market, traders in Brazil see great potential in the present demand situation. A new study shows that Brazil will continue to produce record volumes of grain in the next ten years. This will also have implications for fertilisers.

Brazil to produce 188 million mt of soybeans

In a new study released on Thursday Brazil’s Ministry of Agriculture states that the country will increase its grain production to 390 million mt by 2032/2033. This is 24% up on the 313.8 million mt harvested in 2022/2023. Soybeans are the main driver as production is expected to rise by 21% to 188 million mt. This will enable Brazil to export around 121 million mt of soybeans per year, which will account for 61% of world shipments. While the area planted with grains currently spans 77 million ha, it is set to rise

View related articles

Go to the News Overview
Jun 25, 2024
CHRUDIM. Favourable weather conditions and large acreages should enable a significantly larger blue poppy seed crop in the Czech Republic than last year. The winter crop will also be available on the market in a few weeks.
Jun 25, 2024
DALIAN. The extremely high freight rates are making life difficult for Chinese suppliers, especially when it comes to concluding long-term contracts. Demand for shine skins is unusually high for this time of year.
Jun 24, 2024
NEW DELHI/BUENOS AIRES. Upward trending edible oil markets and increased demand from the Middle East are keeping Indian peanut prices from declining too much. The situation in America is mixed.
Jun 20, 2024
NEW DELHI/ISLAMABAD. Good crops in countries such as Pakistan are putting pressure on the Indian market. Thanks to successful tenders, South Korea is the most important buyer of sesame seeds from India.