South American soybean takes the dominant position of American Soybean

Lead: Reuters Washington, August 15 Reuters Washington, August 15 Reuters: after 30 years, through unremitting efforts and the help of nature, Brazil and Argentina finally surpassed the United States in soybean production and leaped to the top of the world There has been speculation that soybean production in South America will surpass that in the United States next year But the weather accelerated the day The drought is reducing soybean production in the United States, while Brazil and Argentina are expected to record new soybean production According to the U.S government, soybean production in the United States will be 71 million tons, while that in Brazil and Argentina will exceed that in the United States to 78 million tons The decline in soybean production in the United States means that soybean prices will rise this year, while soybean supply in South America will stop the rise of soybean prices, which is very unfavorable to American farmers Due to lower than expected production, the USDA expects domestic soybean prices to rise $1 per bushel This small $1 increase is directly related to the fact that the United States has fallen from 80% of the world market in 1964 to 33% of the current market At the same time, Brazil and Argentina have gradually become world-class strong competitors from the unknown in the 1970s, with a market share of 52% JBT the US, Brazil and Argentina are benefiting from growing import demand from major importers China, the EU, Indonesia, India and Egypt