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QINGDAO TODAY
在线翻译:
szdaily -> Business -> 
China defying predictions that it would run out of soybeans
    2018-11-22  08:53    Shenzhen Daily

WHEN the Sino-U.S. trade dispute escalated earlier this year, most market participants assumed China could never completely cut U.S. soybeans out of its import program due to the sheer volume it consumes.

However, the U.S. soybean season has reached its typical peak export week and Chinese buyers are still nowhere in sight, worrying analysts that China may have pulled off the impossible.

China has been the driving force behind the global soybean market for more than a decade, accounting for nearly one-third of total consumption.

But since the end of July, less than half a million tons of U.S. soybeans have sailed to China, according to port inspection data from the U.S. Department of Agriculture. For comparison, nearly 18 million tons of U.S. beans were sent to China between August and November 2017.

Brazil harvested a record soybean crop earlier this year and despite warnings that the South American country would run out of soybeans toward the end of 2018, exports have continued at record pace.

Through the first half of November, Brazil had exported 2.6 million tons of soybeans, which already surpasses last year’s full-month record of 2.14 million tons. This follows the 5.35 million shipped in October, and that was more than double the previous record volume for the month.

China uses a great deal of soybean meal to feed the world’s largest hog herd, but the government announced new guidelines last month lowering the protein content of animal feed. This was another strategy China deployed to ultimately reduce the demand for soybeans.(SD-Agencies)

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