China soy imports may drop as bird flu crimps feed demand
Beijing will have stockpiled more than 3 million tonnes of domestic soybeans this crop year when the programme ends in April. It also holds 2-3 million tonnes from the 2011 harvest and 800,000 tonnes from the 2012 harvest, analysts said.
Crushers are losing 500-600 yuan ($81-$97) for processing a tonne of soybeans, compared with a 600 yuan profit in the fourth quarter of last year during peak consumption and when some shipments were delayed.
The fat margin in the fourth quarter prompted China to purchase 27.7 million tonnes of U.S soy so far in the current marketing year to August, 2014. China bought a total of 21 million tonnes of U.S. soybeans the year before.
In addition to the purchases from the United States, Chinese buyers have also booked more than 20 million tonnes of new-crop South American beans.
($1 = 6.199 yuan)
- New calculator can help soybean farmers with seed decisions
- U.S., Brazil close to ending cotton trade rift
- U.S.-Japan trade talks hit new farm exports snag
- Ag markets posted a general comeback Wednesday
- Midwest grain growers ‘Invest an acre to feed the world’
- Ag markets turned mixed around midsession Wednesday
- Activists fighting Golden Rice even more in 2014
- U.S. GMO labeling foes triple spending in first half of this year
- Source shows half of GMO research is independent
- White House issues veto threat on bill to block WOTUS rule
- East-West Seed signs marketing collaboration with Monsanto
- How much corn can the ethanol industry use?