The United States has already traded almost 90% of the soybean crop, according to data released on Tuesday, 17, by the United States Department of Agriculture (USDA). According to analysts, there is a risk that inventories will drastically reduce and with this, the possibility of Americans importing Brazilian soy.
According to the market analyst, Vlamir Brandalizze, the commercialization for the American export already exceeds 50 million tons. “It is a historical sales record, with a level well above what we imagined, well above the 22 million tonnes negotiated last year”, he highlights.
Still according to the analyst, the American domestic consumption decreased, the American export rose, and, with that, the Americans from March can start the purchases of Brazilian soy. “The USDA has already pointed out that the final inventory in the USA would be 5 million of 170 thousand tons. If we remember that in the 2018/2019 harvest, that number was almost 25 million tons, it is a number five times lower ”, he points out. When we see the two largest soy exporters having to import, we see an important factor in the market, which has a direct impact on the prices in Chicago ”, adds Brandalizze.
SOURCE: Time 24 News