Soybean and corn exports vary in performance in June

In the month of June 2023, Brazilian exports of soybean presented a mark of 13,77 million tons, compared to the 15,59 million tons registered in the previous month and the 10 million tons in the same period of 2022. The information is from Conab. This decline in the quantity exported reflects the slowdown in sales activity, resulting from the drop in market prices. As a result, many producers chose to hold on to the oilseed, hoping for a more favorable economic scenario in the future.

On the Chicago Stock Exchange, even with uncertainty about the American harvest due to weather conditions, there is an expectation of market stabilization. Projected prices for the next harvest are lower than those of the previous year, a phenomenon driven by complications in current negotiations with Russia, which has decided to suspend the agreement to export cereals through the Black Sea.

In the domestic scenario, according to Conab, the ample supply of Brazilian oilseeds from this harvest, combined with the fall of the dollar in relation to the real and the negative trend in export premiums, contribute to a more challenging situation in the Brazilian soybean market.

On the other hand, in relation to the corn, Brazil exported 1,03 million tons in June 2023, a number higher than the 0,38 million tons in May and the 0,99 million tons in the same period of the previous year. This increase is largely due to transactions carried out in advance.

Information recently released by Conab indicates that this increase is also linked to export premiums, which have experienced rapid appreciation in the Brazilian market. These values ​​are expected to continue rising until the end of the year, mainly due to the delay in harvesting in South America, which has been exacerbated by recent rains. Projections indicate that the harvest of Paraguay's second corn crop will be the latest in eleven years.