China Soybean Imports on Pace for another Record

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Rising feed demand in China is expected to lift the nation’s soybean imports to another record this year, according to the U.S. Department of Agriculture. China’s 2016-2017 soybean crop is expected to total 12.5 million metric tons, up 900,000 from the year prior. Despite the increased domestic production, Pro Farmer’s First Thing Today reports the nation is still expected to boost soybean imports to another record of 85 million metric tons. That represents a three million metric ton difference from what USDA’s office in China expected shipments to total this marketing year. USDA says recovery in China’s swine production and growth in its poultry sector are projected to boost feed demand.