Brazil shipped out 7.18 million mt of soybeans in the first three weeks of March, up 102% month on month, the Brazilian foreign trade department said.
According to the Hellenic Shipping News, despite the US-China phase one trade deal, signed January 15, Chinese crushers still prefer the more price-competitive Brazilian beans over the US-origin, market sources said.
Additionally, profitable crush margins have encouraged Chinese soybeans buyers to continue covering their old crop and new crop demand.
