The soybean market will continue to depend on Chinese imports
Experts Cofco Group estimate the volume of imports of soybeans to China in season 2017/18 at the level of 100 mln tonnes, which significantly exceeds the forecasts of the Ministry of agriculture of China in 95,97 million tonnes and analysts USDA in 97 million tons.
In Cofco Group I believe that in 2018, the country will continue the trend of increased demand for soybean meal from the livestock sector and a further decline in soybean prices, allowing refiners to increase profitability.
the forecast CIG the gross yield of soybeans in season 2017/18 in China will amount to 14.7 million tons, 1.8 million tons lower than in the previous season.
beginning stocks are estimated at 15.1 million tonnes against 13.5 million tons last year.
Consumption of soybeans will increase from 103.8 million tons in 2016/17 MG to 110.5 million tonnes in 2017/18 MG.
After gathering in the US record soybean crop competition between the US and Brazil for the China market has increased significantly.