China continues to reduce the demand for soy

2019-06-11 12:07:37
Machine translation
China continues to reduce the demand for soy

According to China customs, imports of soybeans decreased from 7.64 million tonnes in April to 7.36 million tons in may, which is 24% lower than in may last year – of 9.69 million tonnes.


During January-may, China imported 31,75 million tons of soybeans, which is 12.2 percent less than in the same period last year. The reduction of import experts associated with the growth of tariffs on imports of soybeans from the United States and a decline in domestic demand for soybean meal for the ASF spread in the territory of the country. Uncertainty in trade relations between the US and China does not allow to increase exports of U.S. soybeans in that direction. Of the promised 20 million tonnes, China has acquired 14 million tons of soybeans and has no plans to resume the purchase.


In the United States as of June 9 soybeans planted only 60% of the planned areas compared to 88% in average of 5 years. This will result in reduced harvest and higher world prices for soybeans in the new season. Last week, the pace of planting accelerated due to the dry weather, however, farmers sow mainly corn as the optimum time of sowing soybeans continue until June 15. The predicted current week rainfall can interfere with sowing of space that is left.


soybean Futures in Chicago on the eve of the publication of the updated balance fell to 313,5 $/t after the jump last week.


the Export of soybeans from the U.S. last week rose by 40% to 714,6 thousand tons, of which 400 thousand tons were sent to China.

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