Brazil Joins China and Argentina to Challenge the Chicago Board of Trade

China, Brazil and Argentina are mulling the creation of a multinational market for soybeans as an alternative to the Chicago Board of Trade.

The idea is being explored at a five-day seminar in Beijing organized by the Brazilian Mercantile and Futures Exchange and markets based in Rosario, Argentina, and Dalian, China.

"We have signed a memorandum of understanding with the Chinese exchange of Dalian that will serve as a point of reference in our quest for a joint futures market, so we can operate in their markets and they in ours," Rosario futures exchange chief Jorge Weskamp told the press.

After its sessions in Beijing, the seminar will travel to the cities of Dalian, Shenzhen and Shanghai.

Under the current arrangement, world soy prices are set by the Chicago exchange, which, Weskamp said, does not always reflect the necessities of "our market."

He did not venture to predict how long it will take for Argentine, Brazilian and Chinese exchanges to establish a parallel soy market, noting that many interests are involved.

Weskamp also pointed to questions of market access that remain to be resolved with Beijing. "China is opening up," he said, "but it’s not totally open."

China currently consumes around 15 million tons of soy annually, a level of demand that is expected to double in the next few years.

Brazil – the world’s leading exporter of the product – and Argentina together control more than 60 percent of the market here and are anxious to maintain their dominance.

"Brazil is the country that is most able to expand (production) because it still has room to extend cultivation. Argentina and the United States are more filled up, there is no land, though the technological factor could help improve production," Weskamp said.

During last month’s visit to Beijing by Brazilian Vice President Jose Alencar, Chinese officials indicated an interest in making direct purchases of soy from South America.

Mercopress –


  • Show Comments (20)

  • Guest

    Brazil, Russia, China and India do not have to take miltary action they will hit you in the pocket, that’s where it really hurts.

  • Guest

    Enemey? eh!? Not in your fuckin life. We are not your enemy. Washington is the foe.
    A hungry, greedy, capitalist society and not to mention, Zionism. Murdering innocent peoples all over the planet to feed it’s hegemony.

    The US will become a dinosaur
    in no time.

    The is exploiting other nations in the name of democracy and the result of all this is pain, suffering and starvation while your your fat Zionist cats feed their bellies.

    No more, baby! No more. It is over.

  • Guest

    Look at it all,Brazil, Argentina, Venezuela and all of Latin America, China and Russia don’t even want to do business with the USA.

    Even the Arab world do not anything to do with USA, they going elsewhere, like: Brazil, Latin America, China and others but not the USA.

    How long will it take for the USA
    to recuperate?

  • Guest

    Do not be a childish person.
    Just face up to the truth, the US is out and Brazil is in.

  • Guest

    Lozidiot….psst psst !
    Why dont you go to the forum of this article and tell them how idiots they are those publishing such stupid things.
    Why dont you tell them that Lozidiot knows the real numbers but he forgot them ?
    Go…go….you are the only brazilian expert ? Correct ?
    Sorry to interrupt you while you watched your TV soap opera !

  • Guest

    Lozidiot…listen to that one….
    You know how Brazil is booming. Electricity demand is up sharply ! Correct ?

    Read this now :
    Despite this increase, the figure is still 19% less than in February, 2000, the year before the energy supply crisis that hit the country in 2001.

    Whoaaa….just published now ! please scroll scroll up up !!!

  • Guest

    Hey…Lozidiot…..chhhuuuttt !
    dont say anything to anyone :
    PublicaÀ§ão mostra que conflitos no campo em 2005 causaram mais de 100 mortes.

    today in

    And that one :
    Cientista polÀ­tico propÀµe na Alemanha restriÀ§ão comercial contra o trabalho escravo no Brasil !

    Should the EU ban the import of Brazilian ethanol ?

    same source

    signed : Maybe-Thenot Soidiot


  • Guest

    And usually….
    those with no brains are those with no numbers. Because numbers dont mean anything for them.
    They are the ones that mismanage things. Lula is a clear example.
    Are you from his family ?
    Did you go to the same college, same univesity ?
    Laugh, laugh, laugh !!!!

    Show us your brain, your education, your culture and your knowledge !

  • Guest

    come back witrh facts and numbers.
    I have given you specific numbers for your soy exports, please also read what the bishop said on sugar and slavery : nothing else than what I said.
    I have demonstrated you your ethanol problem in competition with your gasoline price in Sao Paulo.

    All these numbers dont come from me but from Brazilian sources…..curiously.

    I really think the idiot is called Lozeida because he swallows all Lula lies but not the reality.
    I already told you : Just read ALL the articles in this site instead of watching of TV soap opera !
    Its not there where you will learn what is happening in your own country.
    On your Soya prices just refer to what Maggi, your Soy King and Governor of Mato Grosso is saying in writing :
    The actual break even cost is 68 sacs per hectare. The actual production is around 50 sacs per hectare, meaning a loss of 30 % for every sac produced.
    Now if you dont trust Maggi, telling him directly and in writing how idiot he is and that you Lozeida knows better than the largest Soy producer.

    Is that not a good idea ?

    You may as well say the same to all brazilian cattle farmers : Lozeida knows better and that they are idiot !!!!

    Please also say the same to the bishop named in an article if you scroll up concerning slavery and ethanol : Lozeida knows and that you are the authority.

    Again you may do it another time on those who puiblioshed the statistics on Brazil education : Lozeida knows, they know nothing, they are wrong.

    Dont you think you are the real idiot !
    No ? so come up with contradictory numbers, not contradictory words.
    Words and promises were the only things that Lula delivered in abundance.
    Nothing, empty, in substance.
    And not recognizing your problems is a guarantee that nothing weill change for the better. Why change something that is not so bad ? right ?
    It remains that Brazil had the lowest economic growth of ALL developing countries since Lula has been elected.
    No ? Show us your numbers !
    Then only we can talk !
    I told you, if once you need a job for you and your family, I know Mr Sugar in Brazil. He may hire as a sugar can cutter you and all your family…. for life.

  • Guest

    MR. IDIOT!!!
    MR IDIOT you have to sort it out your toughts or make them a litle more clear…you get soooo defensive about your own lack of knowledge that you stat regurgitating all kinds of bull shit information that YOU know very well that it is not TRUTH …but that never stoped you before…you are just an old brit IDIOT high school drop out …I have demoralized you numerous times here in front of the readers…but you are to stupid to understand… just remember…

  • Guest

    6/7 billion in exports…
    for your Soya exports !!!!
    US$ of course.

  • Guest

    Brazil has enough food….
    to feed the whole planet.
    Could be !
    Then why dont you feed properly your millions and millions of under nourrished citizens ?
    And why dont you do like the USAID in flooding the poorest countries with subsidized cheap food ?
    But Noooooooo……you want to be paid !

    That is the difference ! you have enough for billions of indigestions, and you still prefer to sell to rich countries and giving nothing to the poorest !
    I have a clear and detailed examples…if you like !

  • Guest

    Brazil is not yet…..
    Saudi Arabia from what I know.
    Brazil has not the low cost oil as Saudi Arabia from what I know.
    The question is how many foreign companies are bought by Brazilian companies and vice versa !

    Why do you compare Brazil to Saudi Arabia ?

    And as you said the ocean is gigantic. So gigantic it does not start and stop in Brazil if you dont mind. Being a leader in offshore drilling, Brazil doesnt become the owner of the oil found elsewhere..from what I know !

    Having surpluses is good, so why dont you provide more to the needy brazilians instead of exporting them at a loss.

    concerning slavery…dont tell me I am wrong, it is so obvious. Just scroll up (not down), there is a new article on that subject naming one of your bishop who says :
    the situation of sugarcane workers, for example, who “are obliged to compete with machines in order to continue working and keep the machines from substituting them.”

    I didnt need to read him to write what I said.
    WAKE UP !

    It is very strange that you dont know how to add simple things, such as the ethanol price in Brazil compared to gasoline price in Brazil. Here is an authoritative (as you like to mention) comment dated February 2006 :
    “Even in Brazil’s No. 1 ethanol state Sao Paulo, owners of flex fuel cars are finally doing what was unimaginable just a few months ago, filling their tanks with gasoline instead of ethanol.” Industry sources have advised that if ethanol prices are higher than 70% of gasoline prices, drivers are better off using gasoline due to improved fuel economy.”

    At that time the ethanol pump price wwas 73 %.It may have changed since then, but not by much !

    Finally Buddy, you always come with words, never numbers or statistics or ratings ! So shameful they are ?

    Have you not read the article on this site, a few days ago, on Brazilian education ?
    Welll, wellll, not brilliant. Many S.A. countries, poorer than Brazil, have a higher literacy rate than you.
    So why dont you stop defending what is wrong in Brazil, how mismanaged your country is and has been for over 100 years.
    It is not the foreigners, as you constantly suggest, that have made the decision taken by your own government. You elected your governments, we didnt.
    For decades we are telling you what you do wrong on education, impunity, corruption, wealth inequality, lack of investments in infrastructure (roads, highways), bureaucracy, red tape, slavery, just to name a few.
    What has changed since then ?
    Well, well, you did not much on your own problems. You still appear at near the top or the queue of every rating or ranking that are not good.
    You have to understand that the world love the Brazilian society but we have harsh critics on the people governing you.
    At the end we dont help not the 90 % of Brazilians, but only the 10 % or less considered the minority elite.
    They are robbing you, they are selling your goods making a big profits and do everything to keep all for them.

    But the Brazilian society (the 90%) have been brainwashed by this elite. Your country is their farms, the citizens are their slaves. Poor citizens are parked either in the Northeast or in the favelas in or near the big cities to be closer to the elite for when and if needed.
    dont you think that after more than 100 years, it is time for a change.
    Please make the people you elect accountable to what they do with YOUR money. Afterall government money is the citizens money.
    Your country is known for having a very high tax rate, one of the highest. meaning by definition a rich government.
    What did they do with all that money ?
    Education ? No
    Healthcare ? No
    Infrastructure ? No
    Investments ? No

    Corruption ? Yes
    Repeated Mismanagement ? Yes
    Money sent and hidden offshore ? Yes
    Top pensions for government and civil servants retirees ? Yes
    Top salaries for politicians, government, civil servants ? Yes
    Many of your politicians have a higher salary and perks than their peers in France, UK, Spain and USA, despite Brazil is much poorer by far than these countries.

    Where is YOUR money ? What did they do ?

    If you want to continue the discussion, please come back with facts, ratings, rankings, articles but not from elected officials because we know they all hide the truth.

  • Guest

    My God, Why Are Some of Us That Stupid??
    (Referring to the previous guest)

    I am sorry to say and to repeat: How can someone be that stupid as the previous guest????????????????????!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

    To start with the hunger issue: Brazil have enough food to feed the whole planet!!!

    But that is not the way we in this planet work.

    Yes, we are all fucking soon of bitches.

    That is, we prefer to throw food in the garbage than to feed the poor.

    Thus for that reason the previous smart guest should, at least, think a little before stating such childish arguments!!

    If you are so eager to attack Brazil, my lovely country, be my guest!!! But than you should come with genuine arguments and not with bullshit every time!

    And how dare you to state something about 6/7 billion exports??????????????????????????????????????????

    Brazil’s export will exceed $130 billion this year according to connoisseurs (experts)

    And of course is Brazil a poor country, developing country, or NIC. But Brazil is working hard on its technology. For that reason your arguments are getting weaker and weaker about slavery.

    We are using our biofuel in our machines. So we have enough machines to do the hard work. This development is booming.

    And what about exporting at loss?????????????????

    Do not be so stupid over and over again to express such moronic bullshit. Like I once said before, every industry has its difficulties. The same applies for GM, Boeing etc etc.

    This does not mean that WE should give up to export our products.

    And as ou the farmers are having a hard time, the government should give them a hand. Look what your rich governments are doing around this planet!!!!!!!!!!!!!!!!!!!!!!!

    We Brazilians ruining the world??????????????? What a laugh!!!!!!!!!!!!!!!

    Take a look at yourself. If you either come from Europe or the USA!! USA attacked Japan with its atomic weapons (and destroyed other countries with its mighty army) and Europe have been supporting them just like dogs. Not to mention the past of Europe as the most powerful continent!!!!!!!!!!!

    We Brazilians on the other hand are a peaceful country (towards other countries on this planet!!!) We do not go to war, we do not attack innocent civilians aabroad etc, etc……

    Thus more bullshit coming from your mouth…………

    About our growth: we have not being growing with magnificent rates, but consider the fact that BRAZIL has been very stable the last decane!!!!!!

    Actually we have never done as well as we are doing now. Before we did have great growth rates, but this at the cost of also great deficts!!!!

    Now WE have great SURPLUSSES!!!

    AND, ‘Ohhh yesss, please think again, the higher the oil price is, the poorer Brazil citizens are !’ what do you mean by this???????

    Spouting more and more bullshit!!!!

    A country that has a net export of oil will have much more benifits !!

    Why do you think that Saudi Arabia are buying so many European and American companies???????

    Concerning the Brazilian as the world leades of off shore oil drilling and its high costs! Ok that is true. But please do not forget that the world is depleting its on shore oil reserves!!! On the other hand the ocean is giantic and its potential too. (oil production is decreasing and demand is soaring!!!)

    Please give a little thought about your argumets, whick are very stupid…..

    …..and please be a man by saying who you are!!!! (mention at least a nickname under every post of yours!!!)

    signed: Leizão)

  • Guest

    Ethanol and slavery !
    since ethanol is a “green” energy, in Brazil they will now have their “green” slaves.
    Latest Brazilian trend. They can have as many slaves they want now, because it is for the “benefit” of the world, and as no one for the time being will blame them, they wont even have a reason to hide anymore their numbers.
    Even the opposite, all sugar cane cutters will be counted from now, so Brazil will say to the world how caring they are for them and publish regularly how many new slaves they created !

  • Guest

    What a laugh !
    does any Brazilian really believes that your Soya plantations will ruin the developed nations ?
    Your total export are valued at around 6/7 billion. Worse, you are loosing money on it. The nsame for your cattle and meat exportd. That is why you just get “help” from your government.
    Furthermore your farm prices are down over 50 % since 2004.
    What a boom !
    Where is the Brazilian BOOM ?
    A wetted boom because Brazil had simply the lowest economic growth of ALL developing nations, in a 1, 2 or 3 years time frame !
    In fact since Lula is in power !
    Strange ! Isnt it ???

    Your ethanol ? Yeahhh. Barely competitive with oil, because you should know that your ethanol price cannot exceed 70 % of gasoline price in your country, otherwise it is uncompetitive, knowing that more ethanol is needed than oil equivalent !

    Finally your oil industry ! Great you are a leader in deep offshore drilling. Hopefully you realize what this means. It means that your extraction cost is far higher….by definition….with smaller profits.

    And dont you find strange, really strange, that a country almost oil sel sufficient, exporting ethanol has a pump prices much higher than the USA, and that you are poorer than them !

    Ohhh yesss, please think again, the higher the oil price is, the poorer Brazil citizens are !

    Yeahhhhh, that is what you call….an autogoal !

    So just continue to export at a loss, we love it. If you are smart, you should even produce twice as much soya and cattle !!! Hi hi !

    And as to the last forum member, sorry, but we are not asking you to feed us, you are pressing us to accept your feed. You prefer to export and sell even at a loss, rather than feed your own citizens.
    How can you pretend to be the feeder of the world and have so much hunger and under nourrished citizens ???????
    Quite a contradiction that should be explained clearly….once and for all !!!
    And as you said a hungry man is a submissive, then why do you have slavery and we dont ?
    You just love to have slavery despite it has been eliminated in your constitution well over 100 years ago !!!!
    Finally on slavery, dont forget that the biggest industry employing slaves is the SUGAR CANE INDUSTRY. Simply because 40/50 % of sugar cane is harvested manually in Brazil. That is not the case with Soya, 100 % harvested with combines.
    So you know already that the more ethanol you will produce, the more slavery you will have.

    Is that a fight against slavery ?


  • Guest

    From a culture that would sell their own mother on the wall street… betrayal from a culture of corruption…it’s hard to imagine you definition of betrayal… as for the inteligent observation of Leizao I would only add that there’s nothing wrong being the supermarket of the world…think about it Lizao a hungry man is a submissive man… you don’t harm the hand that feed you…

  • Guest

    The Fear of the Powerful…
    I really think that those previous guests are affraid that their rich world will fall apart!!

    Let me explain what I mean!

    USA and the EU are the most powerful blocs on this planet. Though they can not perform better than this, i.e.,. taking profit from the poor countries, selling their technologies for sky-high prices, intimidate other less powerful countries like Iran.

    So for them it will be disastrous when countries like Brazil and China start to form their own bloc.

    This because China will be the most powerful country in the world within just a few years (miliary) and Brazil is and will remain the supermarket of the world! Besides that they are also improving on other technological fields very fast.

    For that reason the powerful of today are affraid that they will lose their grips on the world. They will start to become dependent and therefore they will lose the power of intimidation or their ability of putting other countries on pressure.

    We can debate here about the history of Brazil or China. But if you people know so much about history, you should then know that poor countries can become rich and that rich countries can become poor. That is exactly what is happening with Brazil and the USA.

    The deficts of the USA have been breaking records for the last few months and that situation won’t change soon as the oil prices are soaring. USA imports 15 m barrels per day. Their consumption has surpassed the mark of 20 m barrels per day.

    One barrel of oil costs +/- $70. They import 15 million barrels per day!! So boys to the math!! Then you will see that the USA is heading to disaster.

    Brazil on the other hand will be self-sufficient in petrol this year. Besides that our biofuel production is increasing by the day.

    I won’t talk about other developments in Brazil now anotherwise this post will be to long.

    signed Leizão

  • Guest

    let ’em set up their own exchange, it’ll be good for a laugh at least, something like the 3 stooges go to Wall Street! LOL!

  • Guest

    Strange betrayal !
    Not so long ago, at the request of S.A. grains exporters and government, a new contract specifically for your grains was set up!
    Therefore in CBT you can trade your own harvested grains. Saying now that the CBT does not always reflect the necessities of “our market.” IS SIMPLY DEAD WRONG.

    However it is true that the daily volume remains small.

    Again, again and again, you hide the truth of your failure and mismanagement through pure lies !

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