USDA projected the export of 61 mln tons of soybean and 31 mln tons of corn from Brazil in the current year.

There are no problems with soybean export from the ports except for the traffic congestion on the motorway between Mato Grosso and the southern ports. Problems are likely in the second half of the year. Soybean export window will be wider than usual due the bigger export amounts. Farmers are currently holding their sales because of the low prices. The usual soybean export decline appears between August and September, when corn export gradually takes over. If soybean export does not decrease, which quite likely, there will be a problem in August because corn is normally exported at that time.