Brazil’s Soybean Boom Looks Unfazed by U.S.-China Trade Deal

Soybean shipments from Brazil, the world’s top exporter, are at an all-time high, threatening to dash American farmers’ hopes of booming exports from the U.S.-China trade deal.

Brazil’s tumbling currency coupled with a bumper harvest have boosted the competitiveness of the South American nation amid a strong demand, particularly from China. Shipments totaled 34.5 million tons through April, a record for the first four months of the year, according to figures from Brazil’s Economy Ministry. Exports to China rose 28.5%.