Brazil 2019 soy exports to hit 72mn tonnes on China demand

SAO PAULO: Brazil is expected to export 72 million tones of soy this year, compared to 68.1 million tonnes in the previous forecast, the Brazilian Association of Vegetable Oil Industries (Abiove) said on Friday.

The new forecast took into account the additional Chinese demand for Brazilian soy since China stopped buying from US farmers due to the ongoing trade war, Abiove said. It cut its forecast for Brazil's end-2019 soy stock to 2.565 million tonnes from 5.637 million tonnes in the July estimate.