date:Feb 12, 2014
tion in Brazil was less of a concern than it was last year. China was an active buyer of new-crop South American soyabeans late last week, including some that were initially sold as US soyabeans, traders said. Brazilian soyabeans were offered at a large discount to US soyabeans.
Traders expect additional soyabean sales cancellations at some point as more South American supplies flood the world market. The US Department of Agriculture on Monday raised its Brazilian soya production forecast by 1