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Brazil Can’t Grow Enough Soybeans to Satisfy Chinese Demand

  • Local crushers are importing beans amid record shipments
  • Imports may hit record and include U.S. cargoes, analyst says

Demand for Brazilian soybeans is so strong that the world’s biggest producer is on track to import a record amount of the oilseed.

Imports through July almost tripled from the same period last year to 398,000 metric tons. While the incoming amount is a fraction of the 51.2 million tons shipped out of Brazil in the same span, the growth reveals an unusual situation: Brazil is running short of soybeans.