Brazil's soybean export market underperformed

Introduction: Sao Paulo news: traders said that although soybean harvesting is faster than the schedule at present, 20% of 42 million tons of soybeans have been harvested and warehoused, the soybean market in March is still abnormally calm Traders believe that the lack of soybeans in Brazil's domestic market, concerns about China's import regulations and other restrictions on soybean trade "It looks like farmers are selling most of their early soybeans to crushers, and there are not many for export," said a trader in the southern province of Parana At the same time, the actual export of new soybeans started rather slowly In February, Brazil's main grain export port Paranagua registered 1.92 tons of soybean exports, compared with 148555 tons in the same period last year In the first 10 days of March, the performance was also rather sluggish, with total shipping volume of 183962 tons, down 36% from 287946 tons in the same period last year However, according to the current ships berthed at the port, soybean exports began to increase since late March Paranagua port is 453000 tons, Santos port is 534000 tons But none of these soybeans ships are destined for China Trading companies say they are reluctant to export soybeans to China until they understand China's genetically modified soybeans policy According to media reports, ADM and caramuru alimentos both cancelled the shipping schedule for export to China "There is a strong interest in buying in China," said one trader who works for a multinational company But we were told to stop for a while " In theory, Brazil should be able to benefit China requires all imported soybeans to prove the identity of their genetically modified varieties, while Brazil does not allow the cultivation of genetically modified soybeans Brazil's soybean exports to China increased 78% to 3.17 million tons But Brazilian farmers think they can also increase their share of China's export market On Monday, the Chinese government announced that it would provide a nine-month transition period that could benefit the United States and Argentina But analysts also believe that on the other hand, it will be good for Brazil Because Brazil may have some difficulty in providing supporting documents.