Strong expansion seen for Brazil's soybean exports after big crops
Although the USDA estimate of Brazil’s record 2012/13 soybean crop has been lowered to 82 million tons, strong expansion of Brazil’s soybean exports is forecast for 2012/13 and 2013/14. Brazil’s soybean exports are forecast to surpass those of the United States in both 2012/13 and 2013/14, making Brazil the world’s largest soybean exporter in both years. Despite lower yield expectations for the 2012/13 crop, export prospects have improved as extended weekday operations at major ports have trimmed a backlog of soybean exports. As a result of the enhanced capacity, soybean exports for the country set a monthly record in May at 7.95 million tons and more large monthly shipments are expected to follow. USDA forecasts Brazil’s 2012/13 soybean exports at a record 37.9 million tons and 2013/14 exports at another record of 41.5 million tons. This chart is adapted from one found in the Oil Crops Chart Gallery.