Brazil set to sell record amount of soybeans

SAO PAULO, BRAZIL — Brazilian exporters are forecast to sell a record volume of soybeans this year as China's appetite for the oilseed remains strong amid a trade war with the United States, according to a Nov. 13 report by Reuters.

Shipments from Brazil, the world's largest exporter of the oilseed, are expected to surpass 80 million tonnes in 2018, Reuters reported.

China imposed a 25% tariff on U.S. soybeans in July in retaliation for Washington slapping duties on Chinese goods.

The report said the situation shows China’s trade war with the United States is compelling Brazilians to sell more of their grains in months of the year when the U.S. crop is already available.

Source: WORLD-GRAIN.COM