The US increased exports of soybeans almost fourfold in October

In October, the U.S. exporters of soybeans increased exports of soybeans almost fourfold – from 2.5 mln tons in September to 9.6 mln tons last month. These data are provided by the OilWorld agency (Germany). Since the beginning of the new season, 12.1 tons of oilseeds from the USA have already been shipped abroad.

At the same time, according to the experts, Brazil exported a little less than 12 mln tonnes of oilseeds in the first two months: 5.53 mln tonnes in October, 6.4 mln tonnes in September.

“In 2 months of 2023/24 MY, Brazil increased the exports of soybeans by 4.1 mln tonnes per year,” the report says.

According to the estimates of Oil World (Germany), the total exports of soybeans from the top 6 exporting countries (US, Brazil, Canada, Argentina, Paraguay and Uruguay) increased to 16.89 mln tonnes in October this year, compared to 9.72 mln tonnes in September and 16.52 mln tonnes in October last year.

It should be noted that 74% of this volume was shipped to China – 12.97 million tons.

Tags: soybean, USA, export