March 7, 2013

In February, Brazil's soy exports surged 337% to 959,600 tonnes, as compared to a negligible 284 tonnes a month ago.

According to Brazil's Ministry of Trade, February figure still shows a 35% decrease compared to 1.57 million tonnes in February 2012. In its February forecast, Brazil's government crop monitoring agency CONAB estimated 2012-13 soy crop at 83.4 million tonnes and pegged soy exports at 36.4 million tonnes.  

Brazil's corn export still advanced strongly at 2.29 million tonnes in February, although it showed a decrease of 32% compared to January shipments of 3.37 million tonnes. Nevertheless, February shipments represent an 87% gain compared to 277,000 tonnes in February 2012. In its February forecast, CONAB predicted a new record corn output at 76 million tonnes for 2012-13, up 4% from the record harvest of 72.98 million tonnes in 2011-12.