Chinese buying of soybean cargoes from Brazil and the US plunged last week as crush margins for shipments in the second quarter of 2022 worsened sharply.
Fewer than five soybean cargoes were sold to China last week, more than 50% lower than the volume in the week before, according to sources.
Gross margins for shipments of Brazilian soybeans between March and June this year weakened $5-10/ton since the beginning of 2022 with those for March shipment down $7.5/ton to $13.87/ton in the past two we...