Brazil’s soybean exports jumped 64% in November from a year ago to 4.2 million metric tons, the government said, with good local supply allowing elevated shipments before the world’s largest importer China shifts to United States’ beans.

Brazil soy exports normally fall towards the end of the year as the country approaches the new harvest late on January or early February, but a record crop in 2025 means there are still enough supplies to keep foreign sales going, grain exports lobby Anec said on Thursday.

Anec projects December shipments to also increase sharply, around 90%, to 2.8 million tons. The industry group sees total Brazilian soy exports at 110 million tons in 2025 from 97.3 million tons in 2024.

China bought several vessels of soybeans from the U.S. recently, with loadings expected already in December. The Chinese buying is part of its trade deal with the U.S.

CORN EXPORTS
Brazilian corn exports, however, are expected to fall short of expectations, Anec said.

The group reduced its corn shipment projection by 1 million tons for 2025, to 41 million tons, citing increasingly higher domestic demand.

Brazil’s booming corn ethanol and meat industries are boosting internal demand for the cereal, according to Anec.

On Wednesday, an association representing pork and chicken processors, which uses corn as feed, projected a rise in output and exports for both meat types, indicating strong demand for the cereal.

Despite the downward revision, Brazilian corn exports could still close 2025 with growth, considering that the country exported 37.8 million tons in 2024, according to Anec data.

In December, Brazilian corn shipments are expected to reach 4.99 million tons, a nearly 38% increase compared to the same month last year.
Source: Reuters