Crushers in Brazil are running out of soybeans amid tougher competition from Chinese buyers for the remaining 2017-18 season supplies, reports Bloomberg.
Brazilian crushers have been working with negative margins since the second half of September, leading some to slow the pace of processing, according to Cepea, the University of Sao Paulo’s research arm.
Other plants have halted activities, with some considering resuming only when the new harvest begins in the first quarter of 2019.
Brazil’s soybean inventories are expected to fall to 1.5 million tons this season, the lowest since 1999.
