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A farmdoc analysis finds Brazil's 2023 soybean exports reached a record 3.744 billion bushels, up 29%. US shipments fell 14% to 1.789 billion bushels.
Brazil sent 73% of its soybeans to China, compared with a 51% US average.
Brazil's record exports and heavy reliance on China show the South American supply advantage, which pressures US soybean prices and export share. Chinese demand remains the key price driver for both origins.
farmdocdaily.illinois.eduHongxia JiaoFeb 20, 2024After 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
