Tensions between the US and China do not 'change the game' for Brazilian soybeans, says analyst

The recent events involving China and the United States will continue to reverberate in the agricultural market, especially in soybeans. Last Friday (10), Donald Trump announced an additional 100% tariff against the Asian country, following the limitation of exports of rare earths and products made from these elements. The U.S. government, however, reversed course and postponed the measure, which was set to take effect on November 1st. For agribusiness consultant Carlos Cogo, this move does not "change the game" for Brazil. Regarding a possible agreement between the two countries, he assesses that this scenario is increasingly distant. In Cogo's assessment, the most likely scenario from now on is pressure on futures prices in Chicago, but without significant advancement, as there is no demand for U.S. soybeans. In this sense, Brazil continues to supply the Chinese market. Of the 12.87 million tons purchased by China in September, 78% corresponds to Brazilian soybeans. "The Chinese ...