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Brazilian growers gain space in soybean market due to U.S. drought

Brazil is taking part in the sales of soybeans from the United States, which has lost competitiveness in the global market due to the unprecedented drought affecting the Mississippi River and the high dollar.

The low water level of the river, which paralyzes ships on the path of U.S. soybeans to the Gulf, has raised the U.S. export price, directing some of the Chinese demand to Brazil.

China bought six ships of soybeans for shipment in November, half from Brazil and half from the U.S., according to Arlan Suderman, chief economist for commodities at StoneX.

Historically, China . . .

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