The increased forecast follows the improved weather conditions for soybean growth in the state of Mato Grosso as well as fast soybean harvesting.

3% of soybean areas have been harvested in the state of Parana compared with 24% a year earlier. Rainfall caused campaign delay not only in Parana but also in Sao Paulo, Mato Grosso do Sul and Maranhao.

402,000 tons of wheat were exported from Brazil in January 2017, which is twice as much as last year. Export was 112,600 tons in December 2016.

Wheat yield in the country has been 6.7 mln tons (+21%) in the season, but low-quality wheat share is on the rise, too. Wheat export from the country will grow to record 1.8 mln tons compared with the previous record of 1.32 mln tons st in 2014.

Algeria with 190,000 tons followed by Tunisia with 50,000 tons, Kenya with 36,700 tons, Turkey with 31,600 tons, Sudan with 33,000 tons, Libya with 25,000 tons and China with 12,000 tons were the biggest wheat buyers from Brazil in January.

525,500 tons of wheat were imported in Brazil in January compared with 507,500 tons a year earlier and 506,000 tons in December 2016. Argentina hold a 67% share of the total import.