Anec reduces forecast for Brazil soy exports in February to up to 6 million tons

SÃO PAULO, Feb 23 (.) – Brazil’s soy exports would reach between 5 million and 6.083 million tons this month, the National Association of Cereal Exporters (Anec) estimated on Tuesday, which reduced the outlook for the previous week, that had been in a range of between 6 million and 7.99 million tons.

According to Anec, the ship calendar points to the possibility of exports of 6.08 million tons for February, but the rains that affect shipments and the harvest led to a lower volume, which has worried the market after a January in which there were practically no soybean operations in the ports due to low stocks.

Brazil’s 2020/21 soybean crop had reached about 15 percent of the areas at the end of last week, markedly delayed after a late planting due to drought and now rains slowing down work.

In February last year, Brazil’s soybean exports amounted to 6.6 million tons.

Meanwhile, corn exports in February would exceed half a million tons, practically unchanged in the weekly comparison, while in the same period last year they had reached 415,000 tons.

(By Ana Mano and Roberto Samora; Edited in Spanish by Javier Leira)