USDA Oilseed: World Markets and Trade
10 April 2015
USDA Oilseed: World Markets and Trade - April 2015
After a slow start, the pace of Brazil’s soybean exports has surged in recent weeks. Total March exports, though 10 percent below last year, are quickly making up lost ground. The delay in shipping reflects the relative slow start in plantings and corresponding later harvest this year.
Producer sales, which were running behind last year, have caught up with historic norms. The lag in early season sales, while influenced by the later harvest, was likely impacted by the precipitous decline in the Real. The decline encouraged some producers to delay selling their crop until the currency stabilized in mid-March.
Despite the slow start, a record harvest is expected to lead to record local year (Feb/Jan) exports this year. However, exports for the adjusted Oct/Sep marketing year are forecast to decline slightly from last year. Weak exports for the first five months resulted in total exports through March running 3.6 million tons or 33 percent behind last year’s pace. It is unlikely that exports for the remaining April through September period can offset this shortfall in trade.
Published by USDA Foreign Agricultural Service
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