Brazil is taking part in the sale of soybeans from the United States, which has lost competition in the global market due to the unprecedented drought affecting the Mississippi River and the high dollar.
The river’s low water level, which paralyzes ships on the US soybean route to the Gulf, has boosted the price of US exports, driving some Chinese demand to Brazil.
China bought six soybeans for delivery in November, half from Brazil and half from the US, according to Arlan Suderman, chief commodities economist at StoneX.
Historically, China. . .
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