Private U.S. exporters sold a small number of soybeans to China Monday. Standard Grain President Joe Vaclavik says U.S beans are priced competitively. “It is a very small amount, one cargo. That’s about 2.5 million bushels, which is nothing. Does this signify despite the tariff there may be some Chinese bean buyers back in the market for U.S. beans? It wouldn’t be totally unreasonable to think that.” Vaclavik says freight costs could also impact Chinese buying. “The premiums in Brazil vs. the U.S. are as much as 20 percent to 25 percent. It could offset the entirety of it. It would be very interesting if China were to come back to the U.S. bean market despite the tariff.”
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.