|
China is Key to Slow Pace of U.S. Soybean Exports
15.01.2018 14:35 "Agro Perspectiva" (Kyiv) —
According to the report of the USDA Oilseeds: World Markets and Trade (January 2018) The pace of U.S. soybean exports continues to lag behind last year. Accumulated soybean exports through late December, as reported in the January 5 U. S. Export Sales report, show a 14 percent decline in trade since September 1. This is nearly 5 million tons below the mark reached in 2016 when 33 million tons of exports were reported. This slower pace squarely resides with China where U.S. trade is more than 20 percent below last year. In contrast, shipments to other markets, while roughly a third of the volume to China, are up 8 percent. The slowdown in U.S. exports is primarily a result of last season’s record crop in Brazil, which boosted total supply by nearly 18 million tons. With record supplies available for export on September 1, Brazil exported over 11 million tons in the final 4 months of 2017, more than a three-fold increase over the same period in 2016. Much of this increase was business to China, which more than offsets the trade from the United States. With the start of the 2018 Brazilian harvest just weeks away, the prospects of a near-term brisk uptick in the pace of U.S. sales to China are limited. However, the current forecast for a slightly smaller Brazilan harvest in 2018 should alleviate some of the competitive pressure U.S. exporters faced in 2017.
Also available:
|
| |
|
|