According to a report at Yahoo Finance, in the last several years, Brazil has overtaken the United States as the world's largest producer and exporter of soybeans.
Several factors allowed Brazil to emerge as the global leader in soybean production and exports.
First, Brazil simply had a significant amount of usable and relatively inexpensive land on which to grow crops. Brazil has multiplied its production by a factor of eight, while United States production has grown by 130%.
Second, Brazil was lacking the underlying infrastructure to move physical product and spent years investing in roads and railways to solve the issues. The famous BR-163 highway, connecting Mato Grosso to the Amazon river and export ports, was finally completed in 2019. In addition, China has been involved in the funding of railway projects that could further benefit the production and export of Brazilian soybeans.
Read the full report here.
