Brazil’s exports jumped 33% on a year earlier in January, the fastest rate since June 2011. That was largely due to increased commodity exports, with soybean shipments up 131% and sugar by 58%. China – Brazil’s largest customer – imported 74% more than a year earlier despite the early lunar new year. Shipments to the U.S., meanwhile, climbed 17% in volume terms even though the real was 21% stronger vs. the dollar.