China Turns to US Soybeans as Brazilian Real Firms

New Delhi — China — world’s largest soy importer — restarted purchasing US soybeans as the Brazilian real strengthened in recent weeks, making American exports more competitive with their South American counterparts in terms of price, sources said.

The real as reached a two-month high of 5.06/$ June 3 due to a weaker greenback on the prospects of global economic recovery from the coronavirus pandemic, an analyst said. Optimism about a global economic recovery due to the easing of lockdowns in Europe and Asia has undermined the dollar in the past couple of weeks…

View entirety: S&P Global Platts