Soybean exports from Brazil must total 93 mln tons in 2023, up from the 77.2 mln indicated for 2022. The forecast is part of the Brazilian supply and demand picture, released by SAFRAS & Mercado, and indicates an increase of 20% between one season and another. In the previous forecast, from July, the number was 91.5 mln tons.
SAFRAS indicates the crush of 50 mln tons in 2023 and 48.8 mln tons in 2022, with an increase of 2% between one season and another. In July, the estimate was 49.5 mln tons. SAFRAS indicates imports of 100 thousand tons for 2023, down 79% from 2022.
For the 2023 season, the total supply of soybeans must increase by 19%, reaching 157.898 mln tons. Total demand is projected by SAFRAS at 146.8 mln tons, up 14% from the previous year. Thus, ending stocks must increase by 240%, from 3.27 to 11.098 mln tons.
SAFRAS estimates soymeal production at 38.43 mln tons in 2023, up 2%. Exports must decline 3% to 19 mln tons, while domestic consumption is projected at 19.4 mln, up 8%. Stocks must rise 2% to 1.96 mln tons.
Soyoil production must increase by 3% to 10.15 mln tons. Brazil must export 1.6 mln tons, down 30%. Domestic consumption must rise 9% to 8.6 mln tons. The use for biodiesel is expected to increase by 19% to 5 mln tons. The forecast is for stocks to fall by 11% to 253,000 tons.