Brazil Seen Beating U.S. in Soybean Trade as China Buys
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Brazil, which is set to displace the U.S. as the largest soybean grower this year, may extend that lead as planting is expanded to meet increased demand from China, the biggest buyer, according to Rabobank International.
Output will gain to 81.76 million metric tons in 2013-2014 from an estimated 79.88 million tons this year, Oswaldo Junqueira, head of trade commodity finance in Sao Paulo, said in an interview. Brazilian farmers are set to expand sowing by 306,000 hectares (756,142 acres) to 27.4 million hectares, and may add almost 3 million hectares through 2021, Junqueira said.