McLean County Farm Bureau

U.S. SOY SHIPPERS GET SMALL PERK –

U.S. soybean exports have jumped to a seasonal record at a time of the year when shipments typically slow due to dwindling supplies ahead of the autumn harvest. Curiously, the surge is being driven by cargoes being sent to China — a nation that’s largely shifted away from American soy to imports from Brazil over the past year. Brazil’s increased exports to China have thinned its own supplies, and that’s now forcing Beijing to take in American soybeans rather than canceling them in a bid to protect against Brazilian prices rising further or the U.S. crop falling short. (Bloomberg)