Brazil is importing staple commodities like soybeans as the country if facing rising domestic prices, according video comments on social media from President Jair Bolsonaro. "We are importing soy now because the price is going up," Bolsonaro said, but did not mention any specific amounts. Market chatter has indicated the volume of soybean purchases is not large, with reports mentioning at least one cargo sold last week.
USDA's Export Sales report for the week ended October 22 showed no U.S. soybean sales to Brazil, but did list 5,920 metric tons of wheat, taking total U.S. export commitments to Brazil to 529,158 metric tons, all of it shipped.
USDA also shows outstanding wheat sales of 100,000 metric tons for 2021/22 to Brazil. U.S. export commitments of rice to Brazil are at 115,250 metric tons.