Trade (Commodities)
John LaRose Jr. John LaRose Jr.
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Nancy Kavazanjian Nancy Kavazanjian
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John LaRose Jr. John LaRose Jr.
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02/12/2021 SOURCE: finance.yahoo.com

Brazil's slow soybean harvest widens U.S. export window

Harvesting delays inBrazil, the world's top soybean producer, are prompting buyersled by China to rely on rival exporter the United States forlonger than usual in 2021, according to government data andtraders. Sustained demand for U.S. soybeans is accelerating anhistoric drawdown of U.S. supplies of the oilseed and couldfurther drive up soybean prices at a time of rising foodinflation as countries hoard staples during the pandemic. Concerns over tight global soybean supplies after Chinadramatically increased purchases in recent months ignited a 4.5%U.S. soybean futures rally last month to a 6-1/2-year high.

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Nancy Kavazanjian Nancy Kavazanjian
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Team AgWiki Team AgWiki
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