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U.S. SOYBEANS MAY END UP IN CHINA DESPITE TARIFFS
Jul. 9, 2018
BrownfieldAgNews reports:
China's tariff on U.S. soybeans is now in effect, but Beijing might still indirectly buy U.S. soybeans or soybean products.
AgriVisor senior market analyst Dale Durchholz tells Brownfield the beans would be purchased by another nation, like Argentina or Brazil, processed, and sold to China, "We're hearing some rumbles where the Argentines are interested in buying U.S. beans, because they're cheaper than Argentine beans right now.
"They can take our beans, process them into the two products (soybean meal and soybean oil), and you know what, we could have U.S. bean meal, via being crushed in Argentina, end up in China."
Argentina is usually the world's biggest exporter of soybean products but suffered extensive crop loss this year because of less than ideal weather during planting, development, and harvest. Wire reports also have Brazil as a possible buyer of U.S. soybeans to process and sell to China.
Durchholz says U.S. beans could also be purchased and routed through another country, eventually ending up in Chinese ports.
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