Brazil grabs soybeans market

Trade tensions increase

soybeans

Reuters reports that China’s imports of soybeans from the United States in January fell 14 percent from the same month a year ago.  Brazil grabbed a larger slice of the world’s biggest market for the oilseed with higher-protein beans.

Customs data

Customs data released on Saturday, showed China imported 5.82 million tonnes of soybeans from the United States in January, equal to 67 percent of all imports. Last year, U.S. beans accounted for 88.5 percent of the January total.

The fall in imports underlines concerns about a decline in American sales to the world’s top buyer because of declining protein levels in U.S. product. This has allowed Brazil to lure customers with its own higher-protein crop.