Good morning! Today, China set to place massive orders for Brazilian soybeans. Coronavirus emergency aid will be extended once more. Nubank receives a huge investment from Berkshire Hathaway.
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Brazil braced for record-busting soybean demand from China
Chinese soybean purchases are expected to skyrocket in the near future, reaching record highs, according to consultancy firm S&P Global. China processes over 80 percent of imported soybeans into animal feed, and its demand for grains has been affected since 2018, when the country’s hog herds were nearly halved by an African swine fever outbreak.
- Now, China has swiftly recovered from the epidemic, following strict quarantine rules imposed by authorities and new pig farming guidelines. Herds have increased dramatically.
- “We don’t see 2021 African swine fever cases as a serious threat to China’s pig herd, as the infections have not spread from farm to farm as they did in 2018-2019,” said Shanghai-based commodities consultancy JCI China.
- In...