Wednesday, August 1, 2012

Brazil soy exports slip, corn surges

grainmarketnews_soybean4_005* Soybean exports at 4.13 mln tonnes, down from June

* Iron ore exports recover after May, June rains

* Corn exports surge during record harvest (Adds data table, rewrites throughout)

SAO PAULO, Aug 1 (Reuters) - Brazilian soybean exports were slipped to 4.13 million tonnes in July, down 15 percent from June, after drought in the world's No. 2 producer slashed output from the crop that finished harvest in May.

June through September are typically the peak export months for soybeans but the crop fell to roughly 65 million tonnes from a record 75 million tonnes the year before due to dry weather.

Despite the drop in soybean output, the country is harvesting a record corn crop, which is expected to boost this year's exports to unprecedented levels. Prices are meanwhile rocketing into record territory due to drought in the U.S. farm belt.

Brazil exported 1.7 million tonnes of corn last month compared with 134,900 tonnes in June.

Iron ore exports jumped last month recovering after rain and logistics problems hurt output in previous months at Vale, the world's largest iron ore miner.

Raw sugar exports rose to 2.08 million tonnes as the main center-south crush picked up speed after May and June rains eased over the cane belt. Raw sugar shipments were slightly below last year's July exports 2.29 million tonnes.

Source: Reuters

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