The Brazilian soybean harvest is wrapping up, and as it does, soybeans from that country are being offered at a sizable discount to the United States. 

At times, we have seen soybeans from Brazil reach a 40-cent-per-bushel discount to the U.S. This divergence is due to a variety of reasons, with an overall improvement in the country’s ag industry being a primary one. 

One reason Brazil can offer soybeans at a discount to the United States is improvements to the...