May 5, 2008

Brazil's soy exports higher, soymeal exports lower on-year

Brazil's soy exports were back at harvest season levels in April, hitting 3.3 million tonnes, up from 1.4 million tonnes in March, the Foreign Trade Ministry said Friday (May 2, 2008).

The number is also 200,000 tonnes higher than the 3.1 million tonnes registered in April 2007 from the 2006-07 crop season.

The Brazilian 2007-08 soy crop is nearly completely harvested at this time.

Brazil soy export prices in April went for an average of US$417.60 per tonne, up from US$400.10 in March and just US$266.90 in April 2007 thanks to rising soy prices.

Soy futures rose again Friday (May 2, 2008) to US$12.92 per bushel for the May contract on the Chicago Board of Trade and US$13.04 per bushel for the July CBOT soy contract.

Soymeal exports for April were 819,100 tonnes, up nearly 7 percent compared to 766,300 tonnes in March but down 18 percent from the 1 million tonnes in April 2007.

Soyoil exports for April were up 15 percent to 102,800 tonnes compared to 88,800 in March but down 33 percent compared with 153,600 tonnes in April of last year.

Brazil is the world's No. 2 soy producer and exporter behind the U.S.