US Census Bureau data showed that US corn exports to China reached 505,623 tons last October, the lowest monthly volume in a year, as US corn exporters were replaced by Brazilian exporters, and Brazilian corn shipments are scheduled to invade China’s markets this month.
According to the Williams Shipping Agency, 9 ships totaling 606,540 tons of Brazilian corn were shipped to sail to China this month, compared to 2 shipments of 93,250 tons last November, while the previous largest annual volume of corn to China was regarding 172 thousand tons in 2016.
The newspaper “precorder” indicated that the volume of Brazilian shipments to China in the first two months of the 2022-23 season, which increased by 75% over last year, is equivalent to the average monthly volume of American corn to China between February and May 2022.
In contrast, US soybean exports continue to dominate the Chinese market, until Brazil’s massive soybean crop begins to overwhelm the market.
Brazilian consulting agency Anec estimated Brazil’s soybean exports in December at 1.7 million tons, lower than the 2.5 million tons average for the past five years.