ECSA expected to keep eating US market shares in soybean trade

Reading latest USDA forecast, competition for soybean market-share is to remain in favour of Brazil in coming marketing year 23’/’24!

USDA Soybean Export Forecast

Thanks to a record production, Brazil managed to export all-times record soybean volumes in ‘22/’23, reaching 96Mt. Brazil & Argentina are expected to hit 98Mt & 4.6Mt next m.y. and to keep eating market shares from US, where ‘23/’24 started with a 4-yr low export pace (only 10.2Mt in Sep-Oct’23), a negative record which is expected to characterize the whole marketing year with 48Mt cumulated forecast.

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