A shipment of 30,500 tons of U.S. soybeans is anchored near a major Brazilian port, waiting to be docked within the next one-to-two weeks. By industry standards, this isn’t a huge shipment, but it is the largest amount of U.S. soybeans purchased by Brazil in 23 years. While Brazil is the number one world for soybean exports, the supplies for domestic use are tight.
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