Brazil dominates soybean exports

Brazil’s participation in world soybean exports in the 2018/2019 crop, which ends in August, was favored by trade disputes between the United States and China.

According to the USDA, Brazilian soybean exports will reach 76.9m tons by the end of the year, which corresponds to 51.8% of the total (148.3m).

On the other hand, American participation in world soybean exports will fall from 37.9% to 31.2%.

China’s soybean imports are expected to be lower, falling from 94.1m tons in the 2017/2018 crop to 83m tons in 2018/19, due to the African swine flu.

Nonetheless, Louis Dreyfus, a global commodities trading company, is poised for yet another atypical year with strong soybean brazilian exports  and also from Argentina.

Regarding the trade war between the United States and China, Dreyfus CEO in Brazil, Murilo Parada, states: “US soybeans will be less competitive, so Brazil should export larger volumes, probably more than we hoped and projected.”

Source: Valor and Reuters

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