U.S. soybean export premiums have reached their highest point in 14 months as grain merchants scramble to dispatch a record U.S. harvest before the upcoming presidential election and the potential for renewed trade tensions with China, the primary importer. Data from the U.S. Department of Agriculture revealed that nearly 2.5 million metric tons of U.S. soybeans were inspected for export last week, with almost 1.7 million tons destined for China, marking the highest volume in a year. While this surge in exports offers a silver lining for U.S. farmers grappling with low prices and abundant supplies, sellers caution that this heightened demand may be temporary. This could leave the U.S. with an oversupply of oilseeds at a time when prices are already near four-year lows. Concerns over potential tariffs, as indicated by presidential candidate Donald Trump's campaign rhetoric, are causing some Chinese importers to steer clear of U.S. shipments from January onwards. Instead, these buyers are opting for Brazilian soybeans, paying up to 40 cents per bushel more than they would in the U.S. This represents an earlier-than-usual seasonal shift, consequently narrowing the U.S. export window. 'The Chinese are uncertain about the final costs due to tariffs. They are avoiding the United States from January onwards,' stated Dan Basse, president of AgResource Co. Basse anticipates that U.S. exports for the 2024/25 period will fall 75 million bushels short of the latest USDA forecast. The specific response from China to tariffs under a new U.S. administration remains uncertain, with Trump having...