US Soy Is So Cheap That Even Rival Argentina Is Buying It

From bnnbloomberg.ca

Argentina, the world’s biggest exporter of processed soybean meal and oil, is set to bring in whole beans from the US for the first since 2019 as declining American prices make them the cheapest in the world. The South American nation has purchased 88,400 metric tons of beans to be shipped during the current season, according to the US Department of Agriculture. The move comes as the harvest of a record US crop was getting underway. “It surprised the hell out of me,” said John Baize, an independent analyst who also advises the US Soybean Export Council. US shipments from New Orleans in October, for example, ... (full story)