In Race for China, Brazil Eyes Record Soybean Crop
- Brazil's timing couldn’t be better as it prepares for an early soybean harvest and a record crop. A lingering US-China trade dispute has made China an eager buyer of soybeans from Brazil, which ramped up exports this summer by 20.2 percent from last year’s pace. Although talks to resolve the trade war are getting underway, China’s tariffs on US imports continue to give Brazilian soybeans a big price advantage. Favorable weather allowed much of Brazil’s 2018/19 soybean crop to go in the ground early. And an expected early start to the harvest, as soon as this month in some regions, should narrow the usual gap between this year’s and next year’s Brazilian crops, when China would normally look to the US to buy soybeans. Brazil’s soybean production in 2019 is expected to eclipse that of the US for the first time.