China May Set Record Soybean Imports

first_img By Hoosier Ag Today – Oct 16, 2016 The U.S. Department of Agriculture’s office in China expects the nation will likely import a record 86 million metric tons of soybeans during the current marketing year, up 3.5 million metric tons from last year. A recovery in swine production and steady growth in the poultry sector have boosted demand for feed and protein meal in China. However, USDA expects the rate of growth for soybean imports to slow as the country’s soybean production recovers and as China unloads soybean and oilseed product reserves.Meanwhile, lower imports of distillers dried grains due to China’s antidumping duties should boost soymeal demand and thus soybean imports, according to USDA. That is welcome news for U.S. soybean farmers as a recent USDA report forecasted another record soybean harvest for the current growing season.Source: NAFB News Service Home Indiana Agriculture News China May Set Record Soybean Imports China May Set Record Soybean Imports SHARE Facebook Twitter SHARE Facebook Twitter Previous articleIndiana, Home of the Cattle DriveNext articlePurdue Student takes 2nd Crack at National FFA Office Hoosier Ag Todaylast_img read more