The delayed soybean planting in Brazil for the marketing year 2023-24 is expected to boost US soybean exports in the first quarter of 2024. Weather-related challenges, including El Niño impacts, have led to planting delays in key Brazilian soybean-producing regions, providing an opportunity for increased US exports. While the US is expected to see strong export momentum in Q1 2024, the competition is likely to intensify once Brazil's delayed harvest begins in March, potentially impacting global soybean trade dynamics. Overall, the soybean market outlook for 2024 suggests a competitive landscape with caution due to potential global demand constraints.

SOURCE:GOOGLE