Brazil's soybean export market remains sluggish

Introduction: odj Sao Paulo March 12 news: traders say Brazil's soybean export market is still very calm, which is very unusual for March At present, Brazil's soybean harvesting is speeding up, which is higher than that of previous years 20% of the 42 million tons of soybean output expected by the market has been harvested Traders say the lack of soybeans in the domestic market, coupled with concerns about China's new import regulations, has led to trade restrictions According to a trader in Parana, farmers seem to have sold too much soybeans ahead of time, so there is little left to supply for export Meanwhile, exports of Brazil's new beans began to lag In Paranagua, Brazil's main soybean export port, there were 1.92 tons of registered soybean exports in February, compared with 148555 tons in the same period last year In the first 10 days of March, soybean exports remained sluggish, totalling 183962 tons, compared with 287946 tons in the same period last year, a decrease of 36% In addition, trading companies are reluctant to sell soybeans to China unless the GM rules to be implemented on March 20 become clearer News reports say ADM and caramuru alimentos have both cancelled some soybeans sold to China A trader from a multinational company said there was a strong interest in purchasing from China, but the trader was told to slow down for a while Market reports show that China is interested in Brazilian soybeans because they were delivered cheaply in April In theory, Brazil can get China's genetically modified certificate, because Brazil is the only country that does not allow the planting of genetically modified soybeans Last year, Brazil's big soybean account with China soared 78% to 3.17 million tons Brazilian farmers feel that this share can be increased Because China imports nearly 14 million tons of soybeans every year.