U.S. and Brazil slug it out in soybean exports
The United States exported a record 171 million bushels of soybeans in September, a 25 percent increase from September 2016, according to statistics released last week by the U.S. Census Bureau.
China was the leading destination, accounting for 62 percent of U.S. September exports totaling about 105 million bushels. Mexico was second, receiving about 11.9 million bushels of U.S. soybeans during September.
Brazil also had record soy exports in September at 157 million bushels, 15 percent larger than its previous record in 2015.
Brazil is expected to continue to challenge U.S. soybean exports during the critical October-December shipping period, trade sources told Reuters. Those three months accounted for an average of 53 percent of U.S. soybean shipments over...
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