Just over a week after the U.S. and China signed a critical phase one trade agreement, it's still unclear how a key aspect will play out.
, whose soybean exports to the Asian giant increasedBrazilian sales will likely be hit by the requirement to buy more from the U.S., although it's still not clear to what extent, Sergio Amaral, honorary president of the China-Brazil Business Council and former Brazilian ambassador to the U.S., said in a phone interview.
Meanwhile, as the southern hemisphere enters fall and winter, Brazilian soybeans are about to come onto the market. "This is quite an ambitious timeline for both sides, not just in terms of China ramping up its domestic purchases, but U.S. stepping up its production," said Nick Marro, global trade lead at The Economist Intelligence Unit. "Long term, if you're creating this artificial demand, could put U.S. farmers in a difficult situation."
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