Brazilian soybean exports maintained a robust pace in July, surpassing last year's figures, while corn shipments faced challenges in keeping up with demand.

The European Commission released its latest set of data on the imports of soybean, soybean meal, rapeseed, sunflower oil and palm oil into the EU

Soybean front-month July futures on the Chicago Mercantile Exchange (CME) rebounded on Friday May 10 with support from soybean oil and despite estimates of ample offer and ending stocks for the 2024/25 crop in the latest World Agricultural Supply and Demand Estimates (WASDE) report.

Argentina is on track to regain its position as the largest soy meal exporter in 2023-2024, with its soybean crop  – which has nearly doubled in size – starting to be harvested, but the country faces increasing competition from Brazil and the US for global market share, Fastmarkets understands.

Brazil's agricultural exports soared in the first week of March, which underscores the country's pivotal role in global food supply

Total EU soybean import for the year to date reaches 7.2 million tonnes, with Spain, Netherlands, Germany, Italy and Portugal being the main importers

Brazil's food agency, Conab, has reduced its soybean and corn output forecasts due to adverse weather conditions impacting crop development,

In the face of muted wheat markets at the close of 2023, several nations, including Jordan, Pakistan, and Egypt, passed on international tenders

There has been an increase in daily volumes compared to last year, although wheat exports are slightly down, according to sources

According to customs data, the country's soybean shipments reached 2.3 million tonnes in the first two weeks of October