With crowded ports and warehouses and negative margins for crushers operating in their market, large Chinese importers have begun to re-route cargoes of grains bought in Brazil to processing companies in the US. In March, Sunrise Shandong Grain and Oil Trading would have forwarded to the US 180,000 tonnes of Brazilian soybeans that the company was not able to receive. 

Analysts estimate that in recent weeks, at least 500,000 tonnes — the equivalent of eight ships — have suffered the same fate. Declining Chinese demand due to the bird flu, which caused the extermination of birds, falling domestic pork prices, logistical problems and difficulties in obtaining credit have also stimulated the measure. But nothing has been enough so far to bring down international grain prices, which remain supported by low US inventories. In the year, soybeans prices are up 13.4%.