China’s soybean imports expected to decelerate sharply at the end of 2021

After hitting a record high in the first half, soybean imports by China are expected to decelerate sharply at the end of 2021, frustrating expectations of sustained growth by the largest global buyer and affecting the market just as North American producers plan to sell their new crop.

A collapse in the profitability of the pork sector and a sharp increase in the use of wheat as animal feed are reducing Chinese demand for soybeans. Imports may now fall below 100 million tons this year, from an estimated 102 million tons recently forecast by the United States.

As China buys 60% of global soy shipments, its reduced appetite – just when US producers move to harvest what is projected to be the third-largest crop in history – should add even more volatility to the commodity which has grown for 9 years, peaking in 2021.

Source: Money Times

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https://www.moneytimes.com.br/importacao-de-soja-pela-china-deve-perder-forca-pelo-resto-do-ano-com-uso-limitado-de-farelo/

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