Brazil is expected to export a record 72 million tonnes of soybeans this year, up from 68 million tonnes last season as a drought damaged Argentina’s grains and China’s potential retaliation of U.S. protectionism caused Brazil soybean premiums to widen in relation to prices in Chicago. Farmers will produce almost 119 million tonnes of soybeans this season as yields grew in key regions and in spite of a lack of rains in the south, which damaged the crop in states like Rio Grande do Sul.