South America Calling

Brazil soybeans exports continued on their downward curve in June as the immediate post-harvest clamor subsides in the world's No. 2 producing country.

Shipments totaled 6.9 million metric tons (mmt) last month, down from 8.3 mmt in April and 7.6 mmt in May, but still higher than the 6.5 mmt sent in June 2013.

The numbers underline perceptions that Brazilian port logistics have improved this year, due principally to an improvement in logistics management, dry weather at the key ports and less corn bunging up grain export terminals.

In June, Brazil shipped just 87,600 metric tons of corn (mt), down from 369,000 mt in the same month one year before.

Shipments of all soy complex products remain strong, which has allowed first-half revenues to jump 17% to $20.1 billion, thus substantially outperforming the second item of the Brazilian export list, iron ore with $14 billion.

(AG)

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