Zaner Group Ag Hedge Lead Ted Seifried says U.S. soybeans will move, maybe just not directly to China in the short term. “Brazil does not have much in the way of soybean carry over every year. They pretty much run themselves out between their domestic usage and their exports. Other countries can’t keep going to Brazil for more beans. They’re going to have to come to us for something.” There have been estimates Brazil will need to import one million tonnes of soybeans from the U.S. “They can end up being sort of the middleman for this going forward. They’ve imported a fair amount of our corn when they’ve had issues in the past they needed for ethanol. It’s certainly possible that China is buying U.S. soybeans through Brazil.”
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