Oh, the US can resupply the shortages in South America, no problem. Then the South American countries can gouge the Chinese on their sales, knowing they will not run out on their end, but having a hand on the spigot all the time.
Soybeans are not at all the same thing as petroleum. Venezuela is not a major producer of soybeans. But their neighbor Brazil is, and rank second only to the US as a major producer, having some time ago surpassed China.
I posted previously on FR that the Chinese tariff on US soybeans would have little to no effect. And that was before Trump worked a deal with the EU. Most importantly, the soybean resource stored and sold in the important Southern Cone of South America are under management of Archer Daniels. It is my contention that the Chinese (or anyone for that matter) can’t tell the difference between an American soybean and a Paraguayan or Brazilian soybean.