Thanks to Chinese voracity, Brazil's soybean production, which was expected to decline slightly this year, may grow in the 2019/20 cycle and overtake that of the US, which is currently the world's largest producer.
The US Department of Agriculture announced on Wednesday that soybean production in Brazil will reach 123 million tons in 2020, a significant increase compared to this year's 117 million tons. On the other hand, production in the United States will drop from 123,6 million to 112 million tons due to poor weather conditions.
In 2018, Brazil - the world's largest soybean exporter, just ahead of the US - hit a new export record with 83.6 million tons, a 22% growth over the previous year.
Read more in Istoé