Brazil, the largest exporter of soybeans, may have to buy it in the United States

Brazil the world's largest soybean exporter could import up to one million metric tons of its major competitor in global sales, a further surprise in the trade dispute between States United and China .

While US soybean shipments to China are reduced, prices are discounted. At the same time, the growing demand for Brazilian soy makes exports obtain a premium, which reduces the supply for domestic processors. This means that some buyers in Brazil may have to depend on farmers in Iowa rather than those in Mato Grosso.

"It is close to the financial point of view," said Thursday Luis Barbieri, adviser to Anec, a Brazilian grain export group, at a press conference in São Paulo . Processors near the southern ports of Rio Grande and Paranagua are considering imports that could reach between 500 thousand tons and one million tons this year, he said.

In the midst of the rebounding Brazilian soybean, exporters' profits could be below estimates by between 10% and 30%, partly because of rising road transport costs, Barbieri said. .

The ten-day truckers' strike against the high fuel costs, which occurred in May, delayed shipments and paralyzed the oilseed industry.

Transportation to ports works normally, Barbieri said. Forward sales for the 2018-19 season have stopped.

Anec represents the companies Cargill, Archer-Daniels-Midland and Louis Dreyfus.