Ships are lined up in Argentine ports to export 1.4 million tons of soybeans, mostly to China and none to the United States despite rumors of U.S.-bound shipments that have hurt benchmark Chicago prices, market sources told Reuters. U.S. soybean futures tumbled on May 1 on widespread talk South American soy may be imported into the United States, traditionally the world’s top producer, where supplies have thinned to the lowest in nine years…Full-text article: The Asahi Shimbun May 2013

Key point

  • The article notes that the U.S. will continue to lose Chinese import market share to Brazil and Argentina

ChinaAg Comment

  • From January to September 2012, China imported more soybeans from Brazil than the U.S., which was a change from 2011 when the U.S. accounted for 42% of Chinese imports and Brazil accounted for 39%

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