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Hong Kong media: Brazilian soybeans are expected to meet China\\\'s demand without importing from the United States
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Release time：2018-11-19 14:21:47
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Hong Kong media reported on November 19 that the Sino US trade dispute has led to a decline in US soybean exports and heavy losses to soybean farmers. Many soybean farmers are taking risks in hoarding beans in the hope of regaining the Chinese market after the situation eases down. However, soybean farmers' wishes may fail. Some grain traders said that Brazil's soybean harvest is likely to advance this year, which is expected to meet China's demand, and China can avoid buying soybeans from the United States.
According to the website of Hong Kong Economic Daily on November 15, soybean is China's main feed, so it has been the focus of the market since the Sino US trade dispute began. The market also predicted that China would still buy American soybeans this season, but the situation may change.
According to the report, the global food conference was held in Geneva, Switzerland, and some traders said that the next harvest date of Brazil's soybean may be ahead of schedule, and China can continue to sweep Brazil's soybeans in the next quarter, avoiding importing to the United States.
Gary McGuigan, chairman and head of Global trade at Archer Daniels Midland, a U.S. agricultural company, said Chinese customers were scrambling to find soybean supplies, but no one mentioned buying soybeans from the United States.
Louis Dreyfus, a Dutch agricultural trader, points out that Brazil is less than a month away from the grain harvest, and the local supply is very stable and almost no threat. However, the weather conditions in neighboring Argentina are unstable and the local harvest period is relatively late.
Brazil's soybean exports to China are likely to hit a record high this year, the Ministry of Agriculture said on the 14th.
