Brazilian agribusiness exported US$16bn in October, a record for the month. Soybeans did most of the work
Up 4.1% on October 2025, says Itaú BBA. Year to date, US$149.4bn. Brazil posted a record trade surplus.
To save you time3
- How much did agribusiness export?
- US$16 billion in October, a record for the month and 4.1% above 2025, per Itaú BBA. January and October: US$149.4 billion (+5.2%).
- What drove it?
- Soybeans, which added US$724 million in revenue year on year.
- Why are other figures smaller?
- The trade ministry (MDIC) uses a narrower farm-only cut: US$7.6 billion in October, +12.8%. The bases are not comparable.
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Read the full analysis +
Brazilian agribusiness exported US$16 billion in October, a record for the month, according to Itaú BBA.
The numbers
- October: +4.1% on 2025.
- January and October: US$149.4 billion, +5.2%.
- Standout: soybeans, adding US$724 million in revenue in the month.
Mind the yardstick
The trade ministry publishes a narrower farm-only figure: US$7.6 billion in October (+12.8%). Both are right, they measure different things.
Brazil as a whole
Total exports also hit a record: US$37.8 billion, with a US$9.3 billion surplus in the month and US$71 billion year to date (+34%).
What I would watch
Agribusiness holds up the trade balance. With the dollar at R$5.65, exporters' revenue in reais grows, but the same currency makes fertilizer and crop protection for the next season pricier. Margins depend on when each side was locked in.
