Future of U.S. exports

Lately, China has increasingly turned to South America to fill more bean demand. The U.S. has exported 26.74 mmt of soybeans to China so far in the 2015-16 marketing year. During the same period, U.S. soybean exports to China are down about 2.74 mmt from a year ago, but Brazil's exports to China are up 5 mmt and Argentina's soybean exports to China are up 1.8 mmt from a year ago, according to Informa Economics. "Brazil's currency is such that Brazil's farmers are selling everything they have got and U.S. producers are holding on to their beans waiting on higher prices," Sutter said.