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Brazil, the world’s largest soy producer and supplier, shipped 3.55 million mt of soybeans in the first three weeks of February, up 367% month on month, according to a report from the Brazilian foreign trade department.
Hellenic Shipping News reports that despite the US-China Phase 1 trade deal, signed on January 15, the Chinese crushers still prefer the more price competitive Brazilian beans over the US-origin, market sources said.
Brazil could export 9 million mt of soybeans in February, up 80% year on year, on good harvest pace and currency depreciation.
