Soybeans, China, and the Rest of the World: Changing of the Guard?

Strong import demand is largely credited with soybean’s relatively high current price, especially in the face of a US soybean yield that currently is a record by 3.4 bushels per acre. China remains the largest source of growth in world soybean imports measured in bushels, but its projected growth rate for the 2016 crop year is smaller than the growth rate for the rest of the world. If this projection holds, it will be the first time China has not had a higher growth rate since it became a continuous soybean importer in the mid-1990s. For additional discussion of the current US soybean market see the farmdoc daily articles of October 17, 2016 and October 24, 2016. For more discussion of the world soybean market see the farmdoc daily article of March 13, 2015.

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