According to shipping sources Brazil will supply the U.S. with 208,000 metric tons (7.6 million bushels) of soybeans this month. It is understood that Perdue has chartered three shipments with Glencore and Bunge also importing consignments of soybeans from Brazil. Recent sharp increases in CME soybean prices have created incentives for crushers to import beans. The previous major imports occurred in 2014 when one million metric tons (36.7 million bushels) were purchased. Additional shipments will take place providing the relative landed cost is lower than purchase from domestic sources.
At close of trading on May 20th both CME U.S. soybeans and Santos soybeans were quoted at $561 per metric ton for July delivery. On May 13th soybeans were priced at $593 per metric ton for July Delivery