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| A non binding agreement to purchase, coupled with the continued import Tarriffs of 23% will likely have China purchase only what they think they need to get to new South American crops. This amount is estimated to be between 10-19.2 mmt.
Based on this, I do agree that the 25 mmt for next year is a pipe dream. Only will happen if South America has a disaster for a crop.
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What does 12MMT do to the US balance sheet at 53 nat yield?