According to the U.S. Department of Agriculture, Brazil will harvest more than 3.012 billion bushels of soybeans this year compared to 3.015 billion bushels harvested in the U.S. last year. This large crop could extend Brazil’s export supply. If Brazil is still fully exporting when the U.S. crop is ready to ship, it could affect the price for U.S. beans. However, quality and transportation infrastructure will likely give the U.S. a competitive advantage. Brazil continues to deal with logistical problems at its ports with some vessels waiting up to 39 days to load.
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