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| Doesn't matter really. What matters is the amount that SA is producing and how that number is rising rather dramatically. And we are also producing bigger crops. It's one big world and a bushel will be bought where a bushel is needed and paid for. Ultimately China will buy what it can afford and what it needs, no more. And they buy from SA because it's usually cheaper. If we were cheaper the SA farmer would be whining "why does china buy all the US beans and not ours". We have a higher cost structure than the SA farmer and probably always will.
Half of the beans in ND this harvest will be needed at the two new crush plants where before hardly a bushel stayed in state. | |
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China and beans
