According to Hong Kong media, the Sino-US trade dispute has caused a decline in U.S. soybean exports and heavy losses to soybean farmers. Many soybean farmers have risked hoarding soybeans, hoping to regain the Chinese market after the situation eases. However, the wishes of soybean farmers may be frustrated. Some grain traders said that Brazil's soybean harvest is likely to be ahead of schedule this year, which is expected to meet China's demand. China can avoid purchasing soybeans from the United States.
According to the website of Hong Kong Economic Daily on November 15, soybean is China's main feed, so the Sino-US trade dispute has been the focus of the market since its inception. The market also expected to buy US soybeans earlier of this year, but the situation may change now.
Reported that the Global Food Conference was held in Geneva, Switzerland, and traders said that the next Brazilian soybean harvest may be ahead of schedule, China can continue to sweep Brazilian soybeans in the next quarter, avoiding imports from the United States.
Gary McGuigan, chairman and head of Global trade of Archer Daniels Midland, an American agricultural products company, said Chinese customers were trying to find soybeans suppliers, but no one mentioned buying soybeans from the United States.
Louis Dreyfus, a Dutch agricultural products trader, points out that Brazil is less than a month away from the harvest period, that its local supply is stable and there is little threat, but the weather in Argentina, a neighbouring country, is unstable and the harvest is late.
Brazil's Ministry of Agriculture said on the 14 th that Brazil's soybean export volume to China this year is likely to reach a new high.
Source： news.foodmate.net
