Brazilian soybean prices increased greatly as China announced a tariff on U.S. soybeans. Brazilian soybeans are trading at a $1.85 per bushel premium over Chicago and will remain more expensive if China goes through with the tariff. If a tariff is imposed traders will set Brazilian prices at a slight discount of U.S. soybeans plus the 25 percent import tariff. A tariff will most likely result in more expensive soybeans for China even if they source them from South America.
Go Brasil !!
The price is too cheap still in Chicago. USDA says cost of production 4 years ago was $10.50 USD.