Soybeans: amid geopolitical uncertainties, Brazil takes center stage in the global market

The global soybean market is experiencing a period of heightened uncertainty, marked by increasing geopolitical tensions and profound changes in international trade routes. The clash between the United States and China—the two global players in the oilseed—has generated a significant impasse, with direct repercussions on prices, premiums, and the competitiveness among exporting origins. Since May, China has practically halted its purchases of U.S. soybeans, redirecting demand almost exclusively to Brazil. This structural change has caused a sharp depreciation in U.S. soybean prices and pressured the margins of local producers, who face high costs and a Chicago Board of Trade (CBOT) with a persistently bearish trend. The scenario is exacerbated by recent moves by President Donald Trump, who has imposed new tariffs on Chinese products and discussed restrictions on the trade of rare earths. However, in the field of soybean grain, the Chinese have firmly maintained their supply from ...