Brazil first quarter soybean exports surge 30%<\/h3>\n\n\n\n
Brazil exported 17.2 million mt of soybeans over the January-March \nperiod, an increase on the 13.2 million mt exported over the same period\n last year because of an earlier harvest this year.<\/p>\n\n\n\n
The most apparent gains were made in February when exports more than doubled year-on-year to 6.1 million mt.<\/p>\n\n\n\n
Brazil exported 8.96 million mt of soybeans during March, up almost 2% from the same month last year, government data shows.<\/p>\n\n\n\n
Volumes in March are typically higher than the first two months of \nthe year as the harvest picks-up pace hitting a peak in April and May.<\/p>\n\n\n\n
The year-on-year increase in March was due to an earlier harvest \nalongside heavy rainfall in some states that affected the pace of \nprogress for most of the month. <\/p>\n\n\n\n
But analysts have said dryer weather toward the end of the month \nprevented a decline in production and continuing dry weather could \nresult in better yields in April as the southernmost states increase \nplanting, putting pressure on farmers to sell more beans. <\/p>\n\n\n\n
Official estimates suggest Brazil will export 70 million mt of \nsoybeans this year, down sharply from the 84 million mt exported last \nyear.<\/p>\n\n\n\n
For corn, exports over the first quarter totalled close to 6.9 \nmillion mt, up 41% on the first quarter of last year when exports \ntotalled 4.9 million mt. <\/p>\n\n\n\n
Exported volumes over March totalled 891,900 mt, up 47% on March 2018’s volume of 605,300 mt volume but down on February and January’s totals of 1.75 million mt and 4.22 millon mt respectively.<\/p>\n\n\n\n
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