Soybean shipments from Brazil, the world’s top producer and exporter, are trading at their biggest discount in almost 20 years thanks to a record crop that’s flooding the market with supplies.
The discount for soybeans loading at the Brazilian port of Paranagua is at $1.40 a bushel, compared with benchmark Chicago futures, according to data from researcher Cepea. It’s rare to see the cargoes trade at cheaper levels than US soy, and the inversion has even prompted some buyers in the US, the No. 2 producer, to import from the South American country. The move could also help to ease ...
