Massive Brazilian soybean exports too heavily leaning on China?

On average, over the last three marketing years, some 70% of Brazil’s exported soybeans head to China versus a 56% average for the United States. — Reuters

BRAZIL’S 2023 soybean exports have surpassed 100 million tonnes, up at least 16% from 2021’s full-year record, though the world’s leading soybean exporter remains heavily dependent on China.

No. 2 exporter the United States is also reliant on China but to a lesser degree, though US soy exporters have previously experienced the fallout when demand from their top customer fizzles, especially for geopolitical reasons.