Brazilian Soybean Exports Decline in June, Mill Exports Reach Record Levels

Brazil's soybean exports in June are estimated at 12.55 million tons, a decrease from 13.83 million tons in the same period last year, according to the National Association of Exporters of Grains (Anec). The volume is also lower than May's 14.2 million tons. Anec maintains its projection of 110 million tons of soybean exports in 2025, a record, despite a decrease in farelo de soja exports to 1.29 million tons in June.

Iowa has signed five memoranda of understanding (MOUs) with Vietnam to increase agricultural exports, particularly soybeans and corn. The agreements, signed at the Iowa Capitol on Monday, include a commitment from Vietnam to import $400 million worth of soybeans and meal from Omaha-based Ag Processing Inc. (AGP), one of the top four largest soybean processors in the U.S. [1]

Iowa Secretary of Agriculture Mike Naig emphasized the importance of trade for the state's economy. "International trade supports approximately 380,000 jobs in our state," he said. Vietnam, with a population of over 100 million and a young, growing economy, is seen as a significant market for U.S. agricultural products. The Southeast Asian country is the 10th largest agricultural export market for the U.S., with a total export value exceeding $3.4 billion in 2024. [1]

The MOUs come amidst ongoing trade talks between the U.S. and Vietnam, and the threat of 46% tariffs on Vietnamese products. The Trump administration cited global trade imbalances as a primary reason for country-specific import taxes announced on “Liberation Day” in April. Despite this, Vietnam remains a promising market for U.S. farmers. [1]

Ralph Lents, president of the Iowa Corn Promotion Board, noted the significance of corn-specific MOUs signed on Monday, which could help farmers struggling with profitability due to high input costs and low corn prices. One agreement with United Grain covers the import of 900,000 metric tons of U.S. corn and wheat, while a separate MOU with POET includes 250,000 metric tons of dried distillers grain. [1]

The U.S. soybean market is also set for key updates. The USDA’s June 2025 WASDE report, expected on June 12, will provide updated forecasts for soybean supply, demand, and ending stocks, influencing July futures prices. As of May 25, 76% of the U.S. soybean crop had been planted, ahead of the five-year average of 68%. [2]

Brazil's soybean exports in June are estimated at 12.55 million tons, down from 13.83 million tons in the same period last year, according to the National Association of Exporters of Grains (Anec). This decrease, coupled with Argentina's ongoing flooding, could tighten global soybean supply and support U.S. futures prices. [3]

References:
[1] https://www.iowapublicradio.org/ipr-news/2025-06-03/vietnam-us-trade-farmers-soy-corn-tariffs
[2] https://www.inkl.com/news/step-up-traders-unlock-soybeans-june-profit-potential
[3] https://www.inkl.com/news/step-up-traders-unlock-soybeans-june-profit-potential