Brazil to export soybeans to the United States, shipping data shows

By Karl Plume and Roberto Samora

Feb 23 (Reuters) - At least three U.S.-bound cargo ships are preparing to load with soybeans at two ports in Northern Brazil, according to shipping lineup data seen by Reuters.

The unusual shipments from top global soy supplier Brazil to No. 2 exporter the United States would be the first bulk soybean shipments since last summer, government data showed.

The shipments, which would be arriving in the United States in early spring, are several weeks earlier than past Brazil-to-U.S. shipments as current prices for importing beans from the South American nation are considerably lower, analysts said.

Although U.S. farmers harvested a sizable crop last autumn, Brazilian farmers gathered a record crop last year and are currently harvesting what is projected to be their second-largest crop on record.

"As Brazil has very low prices, we have a difference of around $50 per ton between FOB port prices here and there in the USA. This more than covers the logistical cost of getting Brazilian soy into the U.S.," said Daniele Siqueira, analyst with AgRural.

The vessel Yasa Mimosa is at anchor near Santarem port and the vessel UBC Tilbury is anchored near Itacoatiara port, each waiting to load with around 35,000 metric tons of soybeans bound for the United States, according to data from shipping agency Cargonave.

A third vessel, the Kian, is scheduled to arrive at Itacoatiara next week for loading with around 34,000 tons of soybeans, shipping lineup showed.

The charterer of all three vessels was livestock and poultry producer Perdue, which operates a port and crushing facilities on the U.S. East Coast.

A Perdue spokesman declined to comment on the shipments.

Benchmark U.S. soybean prices on the Chicago Board of Trade Sv1 fell on Friday to the lowest point in more than three years on the news and as U.S. export demand slumped.

(Reporting by Karl Plume and P.J. Huffstutter in Chicago and Roberto Samora in Sao Paulo; Editing by Andrea Ricci and Ros Russell)

((karl.plume@thomsonreuters.com; +1 313 484 5285; Reuters Messaging: karl.plume.thomsonreuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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