News Capsule: Brazil Sets New Soybean Export Record as Strong Chinese Demand Supports Market
02-Jun-2026 09:37 AM
News Capsule: Brazil Sets New Soybean Export Record as Strong Chinese Demand Supports Market
★ Brazil has achieved a new milestone in soybean exports in 2026, setting a historic record. By May 2026, the country had exported 51.6 million tonnes of soybeans, surpassing the 51.5 million tonnes shipped during the same period last year. Final May figures could push exports even higher.
★ By the third week of May, Brazil had already exported 11.38 million tonnes of soybeans. If the current pace continues, total May exports could reach approximately 15.18 million tonnes, close to the all-time monthly record of 15.66 million tonnes set in May 2023. This keeps the possibility of a new monthly export record open.
★ Brazil’s government agency Conab has raised its 2026 soybean export forecast to 116 million tonnes. If achieved, this would significantly exceed last year's exports of 108 million tonnes and establish a new historical record.
★ Brazil's 2026 soybean crop is projected to exceed 179 million tonnes, making it the largest harvest ever recorded in the country. As a result, ending soybean stocks could rise to around 10.3 million tonnes.
★ Higher production and ample supplies are expected to further strengthen Brazil’s competitiveness in the global soybean export market.
★ China remains the key driver of Brazilian soybean demand. Last year alone, China imported approximately 85.4 million tonnes of soybeans from Brazil, maintaining its position as the country's largest customer.
★ Market attention will shift toward the new U.S. soybean crop in the second half of the year. Traditionally, China increases purchases from the United States during this period. If China buys an additional 25 million tonnes of U.S. soybeans during the 2026/27 season, the pace of Brazilian exports could moderate.
★ For now, abundant global soybean supplies are likely to limit the scope for a major price rally. However, strong demand—particularly from China—should continue to provide underlying support to soybean markets.