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NW Indiana | China is such a larger consumer that they aren't as much of a price shopper as most think. They have to buy year round and have a reliable source. Brazil is not to the point of being able to supply all there needs. World demand continues to grow as well so if price is lower at Brazil others will go there also. Simply put the US still has a share of the export market although it has been going down since 2018, any guess what happened in 2018? The first trade war excellerated Brazil production even more taking more of our share than what world wide demand could keep up with. Normal expansion in Brazil will mostly be met by new demand. | |
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How much of this soybean rally was from the trade war?
