Watch the US dollar and the Brazilian currency, the Real. Over the last three weeks, the Real has rallied 16%. On Friday alone the Real gained 2.8%. The strength in the Real–at the same time the US dollar has dropped by 7%–has made US soybeans cheaper than Brazilian soybeans. This change in currency values opened the door for large US soybean exports last week. I expect to see another week of active US soybean exports.
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