China’s Feast on Brazilian Soybeans Leaves US Smaller Share
- Buyers book cargoes for delivery during October into December
- Chinese soymeal demand may fall as farmers struggle to profit
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China’s voracious appetite for South American soybeans has continued into a period typically dominated by the US, an ominous sign for that nation’s growers as their harvest begins.
Importers have booked at least 20 cargoes from Brazil and Argentina over the past two weeks for delivery to China during October, November and into December, according to people familiar with the matter. Chinese buyers were already snapping up Brazilian beans for delivery in the fourth quarter as far back as July.