Brazil's TGG, Santos' main grain terminal, said on Feb. 17 had resumed loading soybeans, meal and corn at half capacity, ending a five-day interruption to exports from the main grain terminal in the country that should lead the world in soybean exports this year.
TGG, when it is running at full capacity, accounts for a little over half of Santos' bulk grain exports annually.
Ships arriving at Paranagua, the No. 2 Brazil grains port, will wait up to 20 days, while those at Santos, the No. 1 port will wait up to 15 days, typical periods for Brazil at this time of the year as the grain harvest approaches its peak, traders and port spokesmen said.
Chicago Board of Trade soybean futures have jumped 19 percent since Dec. 14 when they reached a 14-month low. The rise has come on concern that drought in Brazil, Argentina and Paraguay, which account for about half of world soybean exports, will sap already low global stocks of the important source of protein for human consumption and animal feed.
Brazil's Port of Paranagua, a leading grain exporter for Brazil, said it has 26 ships waiting to load soybeans, meal, corn or wheat, with three ships - two operated by multinational trader Cargill - currently berthed in the public corridor loading bulk grains.
Santos, last year Brazil's largest soybean exporter, said it had 25 ships waiting to load grains and another 14 due to arrive in the coming few weeks.
Harvest is picking up across Brazil's soy belt, where rain has been less than optimal this year and will keep the world's No. 2 soybean producer from surpassing last year's record harvest.
Grain analysts Celeres said harvest has reached 29 percent of the crop area by Feb. 24, up from 19 percent in the week prior. Last year at this time, 19 percent of the crop had been collected.
Santos and Paranagua make up about 55 percent of Brazil's total soy and corn exports, with smaller ports such as Rio Grande and others in the north and northeast making up the rest of exports. (Reuters)
