Official figures indicate that Brazil shipped out 6.3 million tonnes of soybeans in the first half of this month, half as much again as in the corresponding period last month, S&P Global Platts reports.

The commodities market monitor says it expects Brazilian exports of soybeans to rise in the coming weeks, because the harvest is being brought in swiftly and because demand from Chinese processors is growing.

The report says Chinese millers prefer Brazilian soybeans to US soybeans because Brazilian soybeans are cheaper.

Chinese importers have bought 95 percent of the soybeans they will need in May and June, and are now arranging for shipment of the soybeans they will need in July and August, S&P Global Platts says.