SunSirs: Brazil's Corn Export Volume was Lowered to 8.24 Million Tons in October
October 27 2023 13:56:52
The Association of Brazilian Grain Exporters (ANEC) stated that Brazil's corn exports in October were estimated to be 8.239 million tons, lower than last week's estimated 8.492 million tons.
If the prediction becomes reality, it will increase by 33.5% compared to last October's export volume of 6.174 million tons.
In September, Brazil's corn exports reached a record high of 9.34 million tons, an increase of 36.3% year-on-year, breaking the previous record of 9.26 million tons in August
Between October 15th and 21st, Brazil exported 1.97 million tons of corn; The estimated export volume from October 22nd to 28th is 2.16 million tons.
The estimated export volume of Brazilian corn in the first 10 months of this year was 42.25 million tons, compared to 31.94 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.
The US Department of Agriculture estimated in its October supply and demand report that Brazil's corn production for 2022/23 would reach a record high of 137 million tons, which is consistent with last month's expectations; The export volume is expected to reach a record high of 57 million tons, which is also consistent with last month's expectations, surpassing the United States (42.2 million tons) to become the world's top exporter of corn; Brazil's corn production is expected to decrease to 129 million tons in 2023/24, but it will still remain the world's top exporter of corn, with an estimated export volume of 55 million tons, exceeding the expected export volume of 51.44 million tons from the United States.
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