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Farmers may be worried about China’s canceled soybean orders, but other countries are filling the void right now

  • While net Chinese purchases of American soybeans fell for three straight weeks, the U.S. sold to countries in the EU, the Americas and Southeast Asia, USDA Foreign Agricultural Service data showed Thursday.
  • The "U.S. accounts for 37 percent of total soybean exports throughout the world. Beyond Brazil, there's really nobody else," said Rich Nelson, director of research at Allendale, an agricultural market research and trading firm.
  • In addition, "we are now into the season where China almost exclusively buys from Brazil," said Ted Sefried, chief market strategist at brokerage Zaner Ag Hedge.

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