Brazil is one of the world's biggest producers and exporters of soybeans. It exported 58.20 MMT of soybeans from Feb 2022 to Jul 2022, compared to 66.16 MMT in same time period, last year.

China is the biggest importer of Brazilian soybean. This year, Brazil exported 38.42 MMT of soybeans to China from February to July, down by 16% from last year.

If the Chinese demand does not revive, Brazil will be competing well into US export campaign period.