The Association of Brazilian Grain Exporters (ANEC) stated that Brazil's corn exports in November were estimated to be 8.323 million tons, lower than the estimated 8.352 million tons a week ago.

If this prediction becomes reality, it will increase by 52.2% compared to the export volume of 5.468 million tons in November last year.

As a reference, Brazil's corn exports in September this year reached a record high of 9.34 million tons, an increase of 36.3% year-on-year.

The estimated export volume of Brazilian corn in the first 11 months of this year was 50.66 million tons, compared to 37.41 million tons in the same period last year.

This year's strong corn exports reflect the large production of second season corn and the growing demand in China.

ANEC expects Brazil's corn exports to be 52 million tons in 2023, which is higher than the historical peak of 44.7 million tons in 2022 and far higher than the 20.6 million tons in 2021.

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