Death comes to us all. Life's but a walking shadow | It is my understanding that a good portion of Argentina's soybeans is actually exported as soy meal. Something to do with government policy discouraging export of whole soybeans, probably to protect the livestock industry there. Most of that exported soymeal normally goes to Europe. I could be wrong but it is what I remember reading.
You need to remember that Smithfield is in real tight with JBS ( they sold? their beef business to JBS). Last year when corn was short it was Smithfield that threaten loudly to import corn from Brazil. It is worth noting that when JBS raised the $ 5 billion to buy Smithfield's beef business they got the money as a loan straight from the Brazilian Government. My guess at the time it was a way for Brazil to buy it's way into the US beef market.
Edited by 1234 3/21/2014 15:31
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Soy imports
