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Brazilian Corn Exports at 18-month High
Grain, Iron Ore
Brazil’s corn exports surged to an August record of 5.3 Mt last month, up by 2.7 Mt year-on-year and an 18-month high, according to data from the country’s trade ministry. However, a very weak 1q17 (when shipments fell by 9.7 Mt) meant exports in the first eight months of the year were still down by 5.1 Mt annually at 10.8 Mt. Brazilian soya exports (beans & meal) continued their seasonal decline in August, dropping to 7.2 Mt, however this was still up by 2.3 Mt on the year-ago level.
Meanwhile, Brazilian iron ore exports climbed to a three-month high of 34.1 Mt in August, although still down by 0.4 Mt year-on-year. Nevertheless, growth in shipments in the preceding months meant exports in January-August were still up by 7.4 Mt on the same period in 2016 at 249.4 Mt.