Most soybeans Brazil ships out in May tipped to go to China

Williams Shipping forecasts that Brazil will ship out at least 8.8 million tonnes of soybeans this month, with about 53 per cent of the cargoes heading to China, S&P Global Platts reports.

The monitor of commodities markets, citing Williams Shipping data, says at least 4.6 million tonnes of soybeans can already be seen in the lineups for sailing to China throughout May.

The report says Brazil sent more soybeans to China last month than in any month before, having shipped 8.6 million tonnes by April 28.

The increase in the rate of shipment was due to Chinese processors of soybeans needing to make up for disruptions in supply caused by the coronavirus pandemic, S&P Global Platts says.