Market Briefs 11/30/2022
The first shipments of corn from Brazil to China, under an agreement brokered earlier in the year, set sail last week.
Bloomberg reported that China made the decision to start buying Brazilian grains back in May in part to reduce dependence on the U.S. and replace supplies from Ukraine cut off by the Russian invasion. In October, China approved more than 130 Brazilian facilities for export.
The U.S. accounted for about 70% of Chinese purchases in the 2020-21 season.
The U.S. Department of ...
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