Soybean Imports in December Increased

By CnAgri2013-01-16 09:55:25 Print China’s soybean imports registered 5.89 million MT in December of last year, 41.58% more than the month before and 8.7% more than the same period of the previous year. Soybean imports totaled 58.38 million MT in 2012, an increase of 10.92% on the year-on-year basis.
 
Causes for increased soybean imports are two: First, the import price of US soybeans dropped 5% in December from October, falling to a level of RMB4,660/MT. Second, crushers were in the red in November but gained a profit of RMB10/MT in December, creating a strong demand for soybeans.
 
In view of soybean crushers’ losses in early January, soybean imports are predicted to shrink in January and February.
                   

From “China Oil and Oilseeds Market Weekly Report”