Safras＆Mercado, the Brazil agricultural product market survey institution, pointed out recently that by 2019, the soybean export volume of Brazil may reach 75 Million ton, a new record, due to favorable production conditions.

A Brazil website “portosenavios” reported on July 22 that as one of the largest soybean exporters in the world, Brazil’s soybean export volume will increase continuously. Data offered by Safras＆Mercado shows the total soybean export volume in January and February 2019 will increase 1% than the 74.5 million ton in the same period this year. Meanwhile, Safras＆Mercado also expected that the soybean yield in Brazil in 2019 may create the record of nearly 120 Million ton.

Analysts believe Safras＆Mercado considered influence of USA’s trade war against China on Brazil soybean export for the expectation of soybean export.

Since China will add tax for soybeans imported from USA, the soybean cost exported from USA to China will increase. China will seek for other sources of soybean import so that the export volume of Brazil soybeans will rise.

Safras＆Mercado also predicted that by 2019 the soy meal yield in Brazil will reach 33.47 Million ton, increasing 2% than that in this year. Meanwhile, the export volume of soy meal will reach 15 Million ton, 13% lower than that in this year.