The Brazilian National Association of Grain Exporters (ANEC) stated that Brazil's soybean exports in October 2024 are estimated to be 4.12 million tons, lower than the 5.95 million tons in October of last year.

The estimated soybean exports for the first 10 months of this year are 93.2 million tons, higher than the 92.92 million tons for the same period last year,

ANEC estimates that Brazil's soybean exports will reach 99 million tons this year (January to December), only 2.3% lower than the record breaking export volume of 101.3 million tons in 2023, despite a nearly 5% year-on-year decrease in Brazil's soybean production in 2024.

According to ANEC data, Brazil exported a record breaking 101.37 million tons of soybeans in 2023, higher than the 77.8 million tons in 2022. China is the top buyer, accounting for 75% of Brazil's soybean exports.

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