Tradelines News

Get the latest news and updates on cross-border customs and international trade.

Brazil and Canada Win Big From US-China Trade War With Record Soy Exports

Posted March 13, 2019

Under Economic Issues, International Trade Issues

(Emma Cosgrove – Supply Chain Dive)

Brazil and Canada have seized the opportunity presented by the trade war between the U.S. and China to boost soybean sales to the world’s largest purchaser of the crop. Soy exports from Brazil were up 85.2% year over year in the first two months of 2019, according to data from BIMCO.

Canada quadrupled its January 2018 soy exports to China in January 2019, according to Bloomberg.

Since U.S. exports have been low due to tariffs, stocks in storage are high, which could lead to a price drop should the tariffs be lifted. Both Brazil and Canada are preparing for this possibility, according to reports. Click here to read more.